Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Buys 5,000 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 5,000 shares of the stock in a transaction on Thursday, September 3rd. The stock was bought at an average cost of $12.25 per share, for a total transaction of $61,250.00. Following the completion of the acquisition, the insider owned 1,621,662 shares in the company, valued at approximately $19,865,359.50. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 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 Friday, September 4th, Saba Capital Management, L.P. purchased 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.36 per share, with a total value of $84,048.00.
• On Friday, August 28th, Saba Capital Management, L.P. purchased 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.47 per share, with a total value 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 purchased at an average price of $12.49 per share, with a total value of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. acquired 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Price Performance

ECF opened at $12.47 on Wednesday. The stock has a fifty day moving average of $12.55 and a 200-day moving average of $12.39. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

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

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in ECF. Readystate Asset Management LP bought a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at approximately $154,000. Ruggaard & Associates LLC acquired a new stake in Ellsworth Growth and Income Fund during the second quarter worth approximately $248,000. Capstone Investment Advisors LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth $1,076,000. Evolve Private Wealth LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth $875,000. Finally, Beckerman Institutional LLC acquired a new position in Ellsworth Growth and Income Fund in the 2nd quarter valued at $169,000. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.