Saba Capital Management, L.P. Acquires 1,200 Shares of Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 1,200 shares of Ellsworth Growth and Income Fund stock in a transaction on Friday, August 28th. The shares were purchased at an average cost of $12.47 per share, with a total value of $14,964.00. Following the completion of the purchase, the insider directly owned 1,616,662 shares in the company, valued at $20,159,775.14. This trade represents a 0.07% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, August 27th, Saba Capital Management, L.P. purchased 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.49 per share, for a total transaction of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Trading Down 0.2%

Shares of NYSEAMERICAN ECF opened at $12.17 on Thursday. The stock has a 50 day simple moving average of $12.60 and a 200-day simple moving average of $12.39. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $10.70 and a 12-month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Wednesday, September 16th. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Saba Capital Management L.P. increased its holdings in shares of Ellsworth Growth and Income Fund by 2.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after purchasing an additional 45,368 shares during the period. Wells Fargo & Company MN lifted its holdings in Ellsworth Growth and Income Fund by 3.3% in the fourth quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company’s stock worth $11,007,000 after purchasing an additional 30,142 shares during the period. Sit Investment Associates Inc. grew its position in Ellsworth Growth and Income Fund by 4.9% in the 4th quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock valued at $10,846,000 after buying an additional 43,839 shares in the last quarter. Advisors Asset Management Inc. grew its position in Ellsworth Growth and Income Fund by 72.9% in the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock valued at $4,581,000 after buying an additional 166,043 shares in the last quarter. Finally, Pathstone Holdings LLC increased its stake in Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after buying an additional 115,441 shares during the period. Institutional investors own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.

ECF’s investment strategy emphasizes a disciplined, research-driven approach.