Ellsworth Growth and Income Fund (NYSE:ECF) Trading Up 0.1% – Time to Buy?

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) rose 0.1% during trading on Wednesday . The company traded as high as $11.94 and last traded at $11.83. Approximately 13,413 shares traded hands during trading, a decline of 65% from the average daily volume of 38,221 shares. The stock had previously closed at $11.82.

Ellsworth Growth and Income Fund Stock Up 0.6%

The firm has a fifty day moving average of $11.90 and a two-hundred day moving average of $11.23.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, November 24th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 13.8%. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Monday, November 24th.

Insider Activity at Ellsworth Growth and Income Fund

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. acquired 33,764 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was bought at an average cost of $12.15 per share, with a total value of $410,232.60. Following the acquisition, the insider owned 1,680,620 shares in the company, valued at approximately $20,419,533. This represents a 2.05% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of large investors have recently modified their holdings of the company. Pathstone Holdings LLC increased its holdings in Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the company’s stock worth $4,525,000 after acquiring an additional 115,441 shares during the period. Wolverine Asset Management LLC grew its position in shares of Ellsworth Growth and Income Fund by 190.0% during the 2nd quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after purchasing an additional 89,456 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 33.8% in the third quarter. Advisors Asset Management Inc. now owns 227,875 shares of the company’s stock worth $2,643,000 after purchasing an additional 57,520 shares during the period. Invesco Ltd. raised its position in shares of Ellsworth Growth and Income Fund by 31.2% in the second quarter. Invesco Ltd. now owns 161,109 shares of the company’s stock worth $1,651,000 after buying an additional 38,271 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted its stake in Ellsworth Growth and Income Fund by 15.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 185,809 shares of the company’s stock valued at $2,155,000 after buying an additional 24,777 shares during the period. 35.88% of the stock is currently owned by institutional investors.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.