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

Shares of Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.87 and traded as low as $11.21. Ellsworth Growth and Income Fund shares last traded at $11.29, with a volume of 24,184 shares trading hands.

Ellsworth Growth and Income Fund Stock Down 2.8%

The company has a 50 day moving average price of $11.99 and a 200-day moving average price of $11.87.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.9%. The ex-dividend date is Tuesday, March 17th.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock in a transaction on Friday, February 6th. The shares were sold at an average price of $11.95, for a total transaction of $313,305.10. Following the transaction, the insider owned 1,646,578 shares in the company, valued at approximately $19,676,607.10. The trade was a 1.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 76,347 shares of company stock worth $923,828 over the last ninety days. 0.54% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Saba Capital Management L.P. grew its position in shares of Ellsworth Growth and Income Fund by 2.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after buying an additional 45,368 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Ellsworth Growth and Income Fund by 3.3% during the fourth quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company’s stock worth $11,007,000 after acquiring an additional 30,142 shares during the last quarter. Sit Investment Associates Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 4.9% in the fourth 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 period. Advisors Asset Management Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 72.9% in the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after acquiring an additional 166,043 shares during the period. Finally, Pathstone Holdings LLC boosted its holdings in Ellsworth Growth and Income Fund by 42.0% in the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after acquiring an additional 115,441 shares during the last quarter. 35.88% of the stock is owned by 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.