Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Sells $94,044.48 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 7,824 shares of the business’s stock in a transaction that occurred on Thursday, February 5th. The stock was sold at an average price of $12.02, for a total transaction of $94,044.48. Following the sale, the insider directly owned 1,672,796 shares in the company, valued at approximately $20,107,007.92. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

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

• On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $11.95, for a total transaction of $313,305.10.

Ellsworth Growth and Income Fund Price Performance

Shares of NYSE ECF traded up $0.25 during mid-day trading on Monday, hitting $12.05. The stock had a trading volume of 43,330 shares, compared to its average volume of 43,201. The company has a 50 day moving average of $12.02 and a two-hundred day moving average of $11.67. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $8.15 and a twelve month high of $12.65.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Stockholders of record on Monday, November 24th were paid a $0.41 dividend. The ex-dividend date was Monday, November 24th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16. This represents a $1.64 annualized dividend and a dividend yield of 13.6%.

Institutional Trading of Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of ECF. Pathstone Holdings LLC increased its stake in shares of Ellsworth Growth and Income Fund by 42.0% in the third 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 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 worth $1,399,000 after purchasing an additional 89,456 shares during the period. Advisors Asset Management Inc. raised its stake in shares of Ellsworth Growth and Income Fund by 33.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the company’s stock valued at $2,643,000 after buying an additional 57,520 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of Ellsworth Growth and Income Fund by 31.2% in the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the company’s stock valued at $1,651,000 after buying an additional 38,271 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its stake in shares of 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 company’s stock worth $2,155,000 after buying an additional 24,777 shares during the last quarter. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.