Saba Capital Management, L.P. Buys 3,900 Shares of Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 3,900 shares of Ellsworth Growth and Income Fund stock in a transaction dated Thursday, August 27th. The stock was bought at an average price of $12.49 per share, with a total value of $48,711.00. Following the completion of the purchase, the insider directly owned 1,615,462 shares of the company’s stock, valued at approximately $20,177,120.38. This trade represents a 0.24% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions 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 shares were bought at an average cost of $12.53 per share, with a total value 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 bought at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

Shares of ECF stock opened at $12.43 on Friday. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $10.70 and a 12-month high of $13.85. The firm’s 50 day moving average is $12.66 and its 200 day moving average is $12.39.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Institutional Trading of Ellsworth Growth and Income Fund

Large investors have recently modified their holdings of the company. Readystate Asset Management LP purchased a new stake in Ellsworth Growth and Income Fund during the second quarter valued at $154,000. Ruggaard & Associates LLC purchased a new position in Ellsworth Growth and Income Fund in the second quarter worth about $248,000. Capstone Investment Advisors LLC purchased a new position in Ellsworth Growth and Income Fund in the second quarter worth about $1,076,000. Evolve Private Wealth LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at about $875,000. Finally, Beckerman Institutional LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at about $169,000. Institutional investors own 35.88% of the company’s stock.

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.