Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Purchases $87,850.98 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 7,747 shares of the business’s stock in a transaction on Thursday, November 5th. The shares were bought at an average cost of $11.34 per share, with a total value of $87,850.98. Following the completion of the acquisition, the insider owned 1,821,810 shares of the company’s stock, valued at approximately $20,659,325.40. This trade represents a 0.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major 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, October 30th, Saba Capital Management, L.P. bought 11,565 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $11.77 per share, for a total transaction of $136,120.05.
• On Thursday, October 29th, Saba Capital Management, L.P. bought 5,975 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $11.87 per share, for a total transaction of $70,923.25.
• On Wednesday, October 28th, Saba Capital Management, L.P. bought 1,050 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.75 per share, with a total value of $12,337.50.
• On Tuesday, October 27th, Saba Capital Management, L.P. purchased 400 shares of Ellsworth Growth and Income Fund stock. The shares were purchased 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. purchased 2,618 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.43 per share, with a total value of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. purchased 2,600 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $11.58 per share, for a total transaction of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. purchased 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price 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 stock was 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. acquired 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.65 per share, for a total transaction of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. acquired 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.62 per share, for a total transaction of $115,839.78.

Ellsworth Growth and Income Fund Price Performance

NYSEAMERICAN ECF opened at $11.37 on Monday. The company has a 50 day moving average of $11.95 and a 200-day moving average of $12.27. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $10.70 and a 1-year high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 7.7%. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several institutional investors have recently bought and sold shares of the business. Capstone Investment Advisors LLC bought a new position in shares of Ellsworth Growth and Income Fund in the second quarter valued at about $1,076,000. Evolve Private Wealth LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth about $875,000. Blue Bell Private Wealth Management LLC lifted its position in Ellsworth Growth and Income Fund by 19.2% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 285,041 shares of the investment management company’s stock worth $3,341,000 after buying an additional 45,897 shares in the last quarter. Uhlmann Price Securities LLC lifted its position in Ellsworth Growth and Income Fund by 3.4% during the 3rd quarter. Uhlmann Price Securities LLC now owns 76,389 shares of the investment management company’s stock worth $895,000 after buying an additional 2,501 shares in the last quarter. Finally, Readystate Asset Management LP bought a new stake in Ellsworth Growth and Income Fund during 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.