Saba Capital Management, L.P. Purchases 1,200 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. purchased 1,200 shares of the company’s stock in a transaction on Friday, August 28th. The stock was acquired at an average price of $12.47 per share, with a total value of $14,964.00. Following the purchase, the insider owned 1,616,662 shares of the company’s stock, valued at approximately $20,159,775.14. This represents a 0.07% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Large shareholders that own at least 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 Thursday, August 27th, Saba Capital Management, L.P. acquired 3,900 shares of Ellsworth Growth and Income Fund stock. The stock was 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 stock was bought 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. bought 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Price Performance

NYSEAMERICAN ECF traded down $0.07 during trading hours on Tuesday, hitting $12.24. 13,656 shares of the company were exchanged, compared to its average volume of 30,818. The company has a 50 day moving average of $12.64 and a two-hundred 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. Investors of record on Wednesday, September 16th will be paid a dividend of $0.22 per share. The ex-dividend date 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 dividend on an annualized basis and a dividend yield of 7.2%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of large investors have recently modified their holdings of ECF. K2 Principal Fund L.P. grew its stake in shares of Ellsworth Growth and Income Fund by 3.5% during the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company’s stock worth $286,000 after purchasing an additional 834 shares in the last quarter. Raymond James Financial Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company’s stock valued at $934,000 after acquiring an additional 996 shares during the last quarter. Uhlmann Price Securities LLC raised its position in shares of Ellsworth Growth and Income Fund by 1.5% during the 1st 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. Waverly Advisors LLC raised its position in shares of Ellsworth Growth and Income Fund by 3.2% during the 1st quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company’s stock worth $474,000 after acquiring an additional 1,300 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Ellsworth Growth and Income Fund by 1.0% during the second quarter. Baird Financial Group Inc. now owns 145,155 shares of the investment management company’s stock worth $1,488,000 after purchasing an additional 1,475 shares during the last quarter. 35.88% of the stock is owned by hedge funds and other institutional investors.

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.