Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock: Insider Saba Capital Management, L.P. Purchases 16,347 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. bought 16,347 shares of the firm’s stock in a transaction on Friday, October 16th. The stock was acquired at an average price of $11.65 per share, for a total transaction of $190,442.55. Following the transaction, the insider owned 1,770,946 shares of the company’s stock, valued at approximately $20,631,520.90. The trade was a 0.93% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases 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 shares were acquired at an average cost of $11.39 per share, with a total value of $20,843.70.
• On Monday, October 19th, Saba Capital Management, L.P. bought 17,079 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $11.47 per share, with a total value of $195,896.13.
• On Thursday, October 15th, Saba Capital Management, L.P. bought 9,969 shares of Ellsworth Growth and Income Fund stock. The stock was bought 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. bought 56,083 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.74 per share, with a total value of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. purchased 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was bought 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. purchased 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were bought 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. purchased 17,548 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.97 per share, for a total transaction of $210,049.56.
• On Friday, September 4th, Saba Capital Management, L.P. acquired 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were bought 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. acquired 5,000 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.25 per share, with a total value of $61,250.00.
• On Friday, August 28th, Saba Capital Management, L.P. acquired 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $12.47 per share, with a total value of $14,964.00.

Ellsworth Growth and Income Fund Stock Performance

Shares of Ellsworth Growth and Income Fund stock opened at $11.80 on Thursday. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $10.70 and a fifty-two week high of $13.85. The company’s 50 day moving average price is $12.21 and its two-hundred day moving average price is $12.51.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 7.5%. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date was Wednesday, September 16th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Global Retirement Partners LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at $28,000. Readystate Asset Management LP bought a new stake in Ellsworth Growth and Income Fund during the 2nd quarter worth $154,000. Beckerman Institutional LLC acquired a new position in Ellsworth Growth and Income Fund in the 2nd quarter worth about $169,000. Ruggaard & Associates LLC acquired a new position in Ellsworth Growth and Income Fund in the 2nd quarter worth about $248,000. Finally, K2 Principal Fund L.P. acquired a new position in Ellsworth Growth and Income Fund in the 2nd quarter worth about $325,000. 35.88% of the stock is currently owned by institutional investors.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc is a closed-end management investment company listed on the NYSE American under the symbol ECF. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities.

The fund invests primarily in convertible securities, including convertible bonds and preferred stocks, as well as common stocks and other income-producing investments. Convertible securities may provide regular income while also offering the potential to participate in the appreciation of the underlying companies’ common shares.