Saba Capital Management, L.P. Acquires 5,742 Shares of Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 5,742 shares of the company’s stock in a transaction dated Friday, August 21st. The shares were bought at an average price of $12.53 per share, for a total transaction of $71,947.26. Following the acquisition, the insider owned 1,611,562 shares in the company, valued at approximately $20,192,871.86. This trade represents a 0.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Thursday, August 20th, Saba Capital Management, L.P. bought 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 Up 0.4%

NYSEAMERICAN ECF opened at $12.47 on Wednesday. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85. The firm has a 50-day simple moving average of $12.71 and a 200 day simple moving average of $12.38.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th will be issued a $0.22 dividend. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.1%.

Institutional Trading of Ellsworth Growth and Income Fund

Several institutional investors have recently modified their holdings of the company. Global Retirement Partners LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at $28,000. Gilpin Wealth Management LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the 4th quarter valued at about $47,000. Readystate Asset Management LP bought a new stake in Ellsworth Growth and Income Fund in the second quarter valued at about $154,000. Osaic Holdings Inc. raised its position in 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 worth $157,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Beckerman Institutional LLC acquired a new position in Ellsworth Growth and Income Fund in the second quarter worth about $169,000. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

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.