Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock: Insider Saba Capital Management, L.P. Purchases 2,600 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 2,600 shares of the stock in a transaction dated Wednesday, October 21st. The shares were purchased at an average cost of $11.58 per share, with a total value of $30,108.00. Following the completion of the purchase, the insider owned 1,792,455 shares of the company’s stock, valued at approximately $20,756,628.90. The trade was a 0.15% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed 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 Tuesday, October 20th, Saba Capital Management, L.P. bought 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was acquired 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 acquired 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. purchased 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were acquired 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. purchased 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were acquired 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. acquired 56,083 shares of Ellsworth Growth and Income Fund stock. The stock was acquired 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 acquired at an average price of $12.03 per share, for a total transaction 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 cost of $11.95 per share, for a total transaction of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. bought 17,548 shares of Ellsworth Growth and Income Fund stock. The shares were 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. bought 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $12.36 per share, with a total value 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 stock was acquired at an average cost of $12.25 per share, with a total value of $61,250.00.

Ellsworth Growth and Income Fund Stock Performance

Shares of NYSEAMERICAN ECF opened at $11.40 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 has a fifty day simple moving average of $12.14 and a two-hundred day simple moving average of $12.50.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared 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.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors have recently bought and sold shares of ECF. Global Retirement Partners LLC bought a new position in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth approximately $28,000. 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. Beckerman Institutional LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the second quarter valued at approximately $169,000. Ruggaard & Associates LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the second quarter valued at approximately $248,000. Finally, K2 Principal Fund L.P. purchased a new stake in Ellsworth Growth and Income Fund in the second quarter worth $325,000. 35.88% of the stock is owned by institutional investors.

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.