Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Buys 1,547 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 1,547 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $12.52 per share, for a total transaction of $19,368.44. Following the purchase, the insider directly owned 1,605,820 shares of the company’s stock, valued at $20,104,866.40. This represents a 0.10% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. 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 Friday, August 21st, Saba Capital Management, L.P. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.53 per share, for a total transaction of $71,947.26.

Ellsworth Growth and Income Fund Stock Down 0.8%

Shares of NYSEAMERICAN ECF opened at $12.42 on Tuesday. The company has a 50 day simple moving average of $12.72 and a two-hundred day simple moving average of $12.38. 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 business also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Wednesday, September 16th. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. K2 Principal Fund L.P. grew its stake in shares of Ellsworth Growth and Income Fund by 3.5% in the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock worth $286,000 after acquiring an additional 834 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of Ellsworth Growth and Income Fund by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company’s stock worth $934,000 after purchasing an additional 996 shares during the last quarter. Uhlmann Price Securities LLC raised its position in shares of Ellsworth Growth and Income Fund by 1.5% in the 1st quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company’s stock worth $766,000 after purchasing an additional 1,000 shares during the last quarter. Waverly Advisors LLC boosted its stake 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. Finally, Baird Financial Group Inc. boosted its stake in Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company’s stock worth $1,488,000 after purchasing an additional 1,475 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.