Insider Buying: Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Acquires $20,843.70 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 1,830 shares of Ellsworth Growth and Income Fund stock in a transaction dated Tuesday, October 20th. The stock was purchased at an average cost of $11.39 per share, with a total value of $20,843.70. Following the completion of the purchase, the insider owned 1,789,855 shares of the company’s stock, valued at approximately $20,386,448.45. This represents a 0.10% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Wednesday, October 21st, Saba Capital Management, L.P. acquired 2,600 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.58 per share, for a total transaction of $30,108.00.
• On Monday, October 19th, Saba Capital Management, L.P. bought 17,079 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.47 per share, for a total transaction of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. bought 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.65 per share, for a total transaction of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. bought 9,969 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $11.62 per share, with a total value of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. bought 56,083 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $11.74 per share, with a total value of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. bought 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.03 per share, with a total value of $175,638.00.
• On Thursday, October 8th, Saba Capital Management, L.P. purchased 27,937 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $11.95 per share, with a total value of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. purchased 17,548 shares of Ellsworth Growth and Income Fund stock. The stock was acquired 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. purchased 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.36 per share, for a total transaction of $84,048.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. purchased 5,000 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $12.25 per share, for a total transaction of $61,250.00.

Ellsworth Growth and Income Fund Stock Performance

Shares of Ellsworth Growth and Income Fund stock opened at $11.40 on Friday. The stock’s 50-day simple moving average is $12.14 and its 200-day simple moving average is $12.50. 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 firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were given a dividend of $0.22 per share. 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 7.7%. The ex-dividend date was Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waverly Advisors LLC lifted its holdings in Ellsworth Growth and Income Fund by 3.2% in the 1st quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company’s stock worth $474,000 after purchasing an additional 1,300 shares in the last quarter. Private Advisor Group LLC boosted its stake in Ellsworth Growth and Income Fund by 7.6% in the 1st quarter. Private Advisor Group LLC now owns 27,015 shares of the investment management company’s stock worth $301,000 after purchasing an additional 1,916 shares during the period. Global Retirement Partners LLC purchased a new stake in Ellsworth Growth and Income Fund during the 2nd quarter valued at approximately $28,000. Royal Bank of Canada grew its holdings in Ellsworth Growth and Income Fund by 16.8% during the 1st quarter. Royal Bank of Canada now owns 55,309 shares of the investment management company’s stock valued at $617,000 after buying an additional 7,955 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in shares of Ellsworth Growth and Income Fund during the second quarter valued at approximately $154,000. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

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

ECF invests primarily in convertible securities, including convertible bonds and convertible preferred stocks, as well as common stocks. Convertible securities may offer income while also providing the potential to participate in the equity appreciation of the underlying companies.