Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Purchases 33,476 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. acquired 33,476 shares of the company’s stock in a transaction on Thursday, April 3rd. The shares were purchased at an average cost of $8.88 per share, for a total transaction of $297,266.88. Following the acquisition, the insider now owns 1,478,789 shares of the company’s stock, valued at approximately $13,131,646.32. The trade was a 2.32 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more 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 Tuesday, April 1st, Saba Capital Management, L.P. acquired 34,285 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $9.05 per share, for a total transaction of $310,279.25.

Ellsworth Growth and Income Fund Stock Up 3.6 %

Shares of ECF stock opened at $8.72 on Thursday. The stock’s 50-day moving average is $9.46 and its two-hundred day moving average is $9.53. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $7.55 and a 1 year high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.96%. The ex-dividend date of this dividend was Monday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sanctuary Advisors LLC grew its holdings in shares of Ellsworth Growth and Income Fund by 7.3% during the fourth quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock worth $698,000 after buying an additional 4,715 shares during the last quarter. Guggenheim Capital LLC grew its holdings in shares of Ellsworth Growth and Income Fund by 5.5% during the fourth quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock worth $1,545,000 after buying an additional 8,245 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in shares of Ellsworth Growth and Income Fund by 8.3% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company’s stock worth $1,340,000 after buying an additional 10,574 shares during the last quarter. K2 Principal Fund L.P. purchased a new position in shares of Ellsworth Growth and Income Fund during the fourth quarter worth about $147,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the third quarter worth about $288,000. 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 Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.