Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Announces Dividend Increase – $1.01 Per Share

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) declared a quarterly dividend on Wednesday, November 11th. Stockholders of record on Monday, November 23rd will be given a dividend of $1.01 per share by the investment management company on Wednesday, December 30th. This represents a $4.04 annualized dividend and a dividend yield of 34.6%. The ex-dividend date of this dividend is Monday, November 23rd. This is a 359.1% increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.22.

Ellsworth Growth and Income Fund Trading Up 2.6%

Shares of ECF opened at $11.66 on Thursday. The firm has a fifty day simple moving average of $11.91 and a two-hundred day simple moving average of $12.26. Ellsworth Growth and Income Fund has a 1-year low of $10.70 and a 1-year high of $13.85.

Insider Activity at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. acquired 7,747 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $11.34 per share, for a total transaction of $87,850.98. Following the completion of the transaction, the insider owned 1,821,810 shares in the company, valued at $20,659,325.40. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders acquired a total of 217,537 shares of company stock valued at $2,573,176 over the last three months. Insiders own 0.46% of the company’s stock.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Advisors Asset Management Inc. bought a new position in shares of Ellsworth Growth and Income Fund in the 3rd quarter worth approximately $3,777,000. Blue Bell Private Wealth Management LLC boosted its holdings in shares of Ellsworth Growth and Income Fund by 19.2% in the third 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 during the last quarter. Capstone Investment Advisors LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the second quarter worth approximately $1,076,000. Uhlmann Price Securities LLC grew its position in Ellsworth Growth and Income Fund by 3.4% during the third quarter. Uhlmann Price Securities LLC now owns 76,389 shares of the investment management company’s stock valued at $895,000 after buying an additional 2,501 shares during the period. Finally, Evolve Private Wealth LLC bought a new stake in Ellsworth Growth and Income Fund during the second quarter valued at approximately $875,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

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.