Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 1,050 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 1,050 shares of Ellsworth Growth and Income Fund stock in a transaction dated Wednesday, October 28th. The stock was acquired at an average price of $11.75 per share, for a total transaction of $12,337.50. Following the completion of the acquisition, the insider owned 1,796,523 shares in the company, valued at approximately $21,109,145.25. The trade was a 0.06% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more 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 Tuesday, October 27th, Saba Capital Management, L.P. purchased 400 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $11.63 per share, with a total value of $4,652.00.
• On Monday, October 26th, Saba Capital Management, L.P. acquired 2,618 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.43 per share, for a total transaction of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. bought 2,600 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.58 per share, with a total value of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. bought 1,830 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.39 per share, for a total transaction of $20,843.70.
• On Monday, October 19th, Saba Capital Management, L.P. purchased 17,079 shares of Ellsworth Growth and Income Fund stock. The shares were bought 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 stock was purchased at an average price of $11.65 per share, with a total value of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. purchased 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were 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. purchased 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.74 per share, for a total transaction of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. acquired 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. bought 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $11.95 per share, with a total value of $333,847.15.

Ellsworth Growth and Income Fund Trading Up 0.6%

Shares of ECF traded up $0.07 during mid-day trading on Thursday, reaching $11.89. 10,080 shares of the company’s stock traded hands, compared to its average volume of 32,420. The stock’s 50-day moving average is $12.08 and its two-hundred day moving average is $12.30. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $10.70 and a 12 month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date was Wednesday, September 16th. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

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

About Ellsworth Growth and Income Fund

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.