Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock Passes Above 50-Day Moving Average – Here’s Why

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) shares passed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.69 and traded as high as $12.84. Ellsworth Growth and Income Fund shares last traded at $12.83, with a volume of 29,945 shares changing hands.

Ellsworth Growth and Income Fund Stock Up 1.5%

The business has a fifty day moving average price of $11.69 and a two-hundred day moving average price of $11.90.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th were issued a $0.19 dividend. The ex-dividend date was Tuesday, March 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.9%.

Insider Buying and Selling at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of the company’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $11.95, for a total value of $313,305.10. Following the transaction, the insider owned 1,646,578 shares in the company, 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 90 days, insiders sold 76,347 shares of company stock valued at $923,828. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Large investors have recently made changes to their positions in the business. Invesco Ltd. grew its stake in shares of Ellsworth Growth and Income Fund by 31.2% in the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the investment management company’s stock valued at $1,651,000 after buying an additional 38,271 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company’s stock valued at $1,488,000 after buying an additional 1,475 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ellsworth Growth and Income Fund by 44.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the investment management company’s stock valued at $773,000 after buying an additional 23,340 shares in the last quarter. Osaic Holdings Inc. grew its stake in shares of Ellsworth Growth and Income Fund by 11.1% in the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock valued at $157,000 after buying an additional 1,535 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC grew its stake in shares of Ellsworth Growth and Income Fund by 15.4% in the 3rd 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 buying an additional 24,777 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

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.