Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Shares of Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.86 and traded as low as $11.44. Ellsworth Growth and Income Fund shares last traded at $11.51, with a volume of 32,266 shares traded.

Ellsworth Growth and Income Fund Price Performance

The stock has a 50-day simple moving average of $12.05 and a 200-day simple moving average of $11.86.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.76 annualized dividend and a dividend yield of 6.6%.

Insider Transactions at Ellsworth Growth and Income Fund

In related news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of the stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $11.95, for a total value of $313,305.10. Following the completion of the transaction, the insider owned 1,646,578 shares of the company’s stock, valued at $19,676,607.10. This represents a 1.57% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 76,347 shares of company stock worth $923,828. 0.54% of the stock is owned by corporate insiders.

Institutional Trading of Ellsworth Growth and Income Fund

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. grew its position in Ellsworth Growth and Income Fund by 33.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the investment management company’s stock worth $2,643,000 after acquiring an additional 57,520 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its position in Ellsworth Growth and Income Fund by 15.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 185,809 shares of the investment management company’s stock valued at $2,155,000 after purchasing an additional 24,777 shares during the last quarter. Guggenheim Capital LLC boosted its stake in shares of Ellsworth Growth and Income Fund by 5.0% during the second quarter. Guggenheim Capital LLC now owns 148,511 shares of the investment management company’s stock valued at $1,522,000 after purchasing an additional 7,089 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Ellsworth Growth and Income Fund by 10.7% during the fourth quarter. Royal Bank of Canada now owns 47,354 shares of the investment management company’s stock valued at $550,000 after purchasing an additional 4,574 shares in the last quarter. Finally, K2 Principal Fund L.P. grew its holdings in shares of Ellsworth Growth and Income Fund by 3.5% during the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock worth $286,000 after purchasing an additional 834 shares during the last quarter. 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.