Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 3,900 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 3,900 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was bought at an average cost of $12.49 per share, for a total transaction of $48,711.00. Following the transaction, the insider owned 1,615,462 shares of the company’s stock, valued at $20,177,120.38. The trade was a 0.24% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock 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. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $12.53 per share, with a total value of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

NYSEAMERICAN ECF opened at $12.43 on Friday. The firm has a 50-day moving average of $12.66 and a 200-day moving average of $12.39. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $10.70 and a 52-week high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a $0.22 dividend. 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. This represents a $0.88 annualized dividend and a dividend yield of 7.1%.

Institutional Trading of Ellsworth Growth and Income Fund

Several hedge funds and other institutional investors have recently bought and sold shares of ECF. Global Retirement Partners LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at about $28,000. Gilpin Wealth Management LLC bought a new position in shares of Ellsworth Growth and Income Fund during the fourth quarter worth approximately $47,000. Readystate Asset Management LP bought a new position in shares of Ellsworth Growth and Income Fund during the second quarter worth approximately $154,000. Osaic Holdings Inc. raised its position in shares of Ellsworth Growth and Income Fund by 11.1% in the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company’s stock valued at $157,000 after buying an additional 1,535 shares in the last quarter. Finally, Beckerman Institutional LLC acquired a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at approximately $169,000. Institutional investors and hedge funds 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.