Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Buys 14,600 Shares of Company Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 14,600 shares of Ellsworth Growth and Income Fund stock in a transaction dated Monday, October 12th. The stock was purchased at an average price of $12.03 per share, for a total transaction of $175,638.00. Following the completion of the acquisition, the insider directly owned 1,688,547 shares in the company, valued at approximately $20,313,220.41. This represents a 0.87% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 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, October 8th, Saba Capital Management, L.P. acquired 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.95 per share, with a total value of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. bought 17,548 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.97 per share, with a total value of $210,049.56.
• On Friday, September 4th, Saba Capital Management, L.P. bought 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.36 per share, with a total value of $84,048.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. bought 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.25 per share, for a total transaction of $61,250.00.
• On Friday, August 28th, Saba Capital Management, L.P. bought 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $12.47 per share, for a total transaction of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. purchased 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was acquired 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 shares were acquired at an average cost of $12.53 per share, with a total value 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, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Stock Down 2.3%

NYSEAMERICAN:ECF opened at $11.72 on Thursday. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $10.70 and a 1 year high of $13.85. The stock has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $12.49.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were paid a dividend of $0.22 per share. The ex-dividend date was Wednesday, September 16th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. This represents a $0.88 annualized dividend and a yield of 7.5%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Retirement Partners LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at $28,000. Readystate Asset Management LP purchased a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter valued at $154,000. Beckerman Institutional LLC acquired a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth $169,000. Ruggaard & Associates LLC acquired a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth $248,000. Finally, Private Advisor Group LLC raised its stake in Ellsworth Growth and Income Fund by 7.6% during the 1st quarter. Private Advisor Group LLC now owns 27,015 shares of the investment management company’s stock worth $301,000 after acquiring an additional 1,916 shares in the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund, Inc is a closed-end management investment company listed on the NYSE American under the symbol ECF. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities.

The fund invests primarily in convertible securities, including convertible bonds and preferred stocks, as well as common stocks and other income-producing investments. Convertible securities may provide regular income while also offering the potential to participate in the appreciation of the underlying companies’ common shares.