Saba Capital Management, L.P. Acquires 1,547 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 1,547 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were bought at an average cost of $12.52 per share, for a total transaction of $19,368.44. Following the transaction, the insider owned 1,605,820 shares in the company, valued at approximately $20,104,866.40. The trade was a 0.10% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• On Friday, August 21st, Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.53 per share, for a total transaction of $71,947.26.

Ellsworth Growth and Income Fund Stock Performance

Shares of ECF opened at $12.47 on Wednesday. The business has a fifty day moving average of $12.71 and a 200 day moving average of $12.38. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $10.70 and a 52-week high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a $0.22 dividend. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Sit Investment Associates Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 4.9% during the 4th quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock worth $10,846,000 after acquiring an additional 43,839 shares during the last quarter. Evolve Private Wealth LLC purchased a new stake in Ellsworth Growth and Income Fund in the second quarter worth $875,000. Ruggaard & Associates LLC purchased a new stake in Ellsworth Growth and Income Fund in the second quarter worth $248,000. Capstone Investment Advisors LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the second quarter worth $1,076,000. Finally, K2 Principal Fund L.P. boosted its stake 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 valued at $286,000 after purchasing an additional 834 shares during the period. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.