Ellsworth Growth and Income Fund Ltd. $ECF Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC trimmed its position in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) by 41.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 78,042 shares of the company’s stock after selling 55,464 shares during the quarter. Wealth Enhancement Advisory Services LLC owned approximately 0.57% of Ellsworth Growth and Income Fund worth $932,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Blue Bell Private Wealth Management LLC lifted its position in shares of Ellsworth Growth and Income Fund by 15.4% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 185,809 shares of the company’s stock worth $2,155,000 after buying an additional 24,777 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ellsworth Growth and Income Fund by 31.2% during the second quarter. Invesco Ltd. now owns 161,109 shares of the company’s stock valued at $1,651,000 after purchasing an additional 38,271 shares during the period. Guggenheim Capital LLC lifted its holdings in Ellsworth Growth and Income Fund by 5.0% in the second quarter. Guggenheim Capital LLC now owns 148,511 shares of the company’s stock worth $1,522,000 after purchasing an additional 7,089 shares during the period. Baird Financial Group Inc. raised its position in shares of Ellsworth Growth and Income Fund by 1.0% during the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock worth $1,488,000 after buying an additional 1,475 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its holdings in shares of Ellsworth Growth and Income Fund by 190.0% in the second quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after acquiring an additional 89,456 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Stock Performance

NYSE:ECF opened at $12.47 on Tuesday. The company has a 50-day moving average of $11.97 and a 200-day moving average of $11.63. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $8.15 and a twelve month high of $12.65.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, November 24th were given a $0.41 dividend. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16. The ex-dividend date was Monday, November 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 13.2%.

Insider Activity at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 33,764 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $12.15 per share, for a total transaction of $410,232.60. Following the transaction, the insider owned 1,680,620 shares in the company, valued at $20,419,533. The trade was a 2.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.