Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock: Insider Saba Capital Management, L.P. Acquires 14,600 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 14,600 shares of the business’s stock in a transaction on Monday, October 12th. The shares were acquired at an average price of $12.03 per share, for a total transaction of $175,638.00. Following the completion of the acquisition, the insider directly owned 1,688,547 shares in the company, valued at approximately $20,313,220.41. This represents a 0.87% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 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 Thursday, October 8th, Saba Capital Management, L.P. acquired 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.95 per share, with a total value of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. acquired 17,548 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $11.97 per share, with a total value 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 stock was 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 stock was 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. bought 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.47 per share, for a total transaction of $14,964.00.
• On Thursday, August 27th, Saba Capital Management, L.P. bought 3,900 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $12.49 per share, for a total transaction of $48,711.00.
• On Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $12.53 per share, for a total transaction 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 bought at an average price of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Trading Down 2.3%

NYSEAMERICAN:ECF traded down $0.28 during trading hours on Wednesday, reaching $11.72. The company had a trading volume of 127,051 shares, compared to its average volume of 32,837. The business’s 50-day simple moving average is $12.33 and its two-hundred day simple moving average is $12.49. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently disclosed 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 is an increase 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 7.5%. The ex-dividend date was Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

Large investors have recently made changes to their positions in the company. Sit Investment Associates Inc. raised its stake in Ellsworth Growth and Income Fund by 4.9% during the 4th quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock worth $10,846,000 after buying an additional 43,839 shares during the period. Capstone Investment Advisors LLC bought a new position in Ellsworth Growth and Income Fund in the second quarter worth approximately $1,076,000. Evolve Private Wealth LLC bought a new position in Ellsworth Growth and Income Fund in the second quarter worth approximately $875,000. Uhlmann Price Securities LLC boosted its holdings in Ellsworth Growth and Income Fund by 1.5% in the first quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company’s stock worth $766,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Ellsworth Growth and Income Fund by 16.8% in the first quarter. Royal Bank of Canada now owns 55,309 shares of the investment management company’s stock valued at $617,000 after acquiring an additional 7,955 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Ellsworth Growth and Income Fund Company Profile

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.