Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Sells $94,044.48 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 7,824 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $12.02, for a total value of $94,044.48. Following the transaction, the insider owned 1,672,796 shares of the company’s stock, valued at approximately $20,107,007.92. This represents a 0.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Major 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 Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $11.95, for a total transaction of $313,305.10.

Ellsworth Growth and Income Fund Stock Performance

Shares of NYSE ECF opened at $12.25 on Thursday. The firm has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $11.70. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $8.15 and a 12 month high of $12.65.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be issued a $0.19 dividend. The ex-dividend date is Tuesday, March 17th. This represents a $0.76 annualized dividend and a yield of 6.2%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Pathstone Holdings LLC boosted its position in shares of Ellsworth Growth and Income Fund by 42.0% during the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares in the last quarter. Wolverine Asset Management LLC lifted its position in Ellsworth Growth and Income Fund by 190.0% during the second quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after buying an additional 89,456 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Ellsworth Growth and Income Fund by 33.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the company’s stock valued at $2,643,000 after buying an additional 57,520 shares in the last quarter. Invesco Ltd. grew its position in shares of Ellsworth Growth and Income Fund by 31.2% in the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the company’s stock worth $1,651,000 after buying an additional 38,271 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its stake 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 acquiring an additional 24,777 shares in the last quarter. Institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

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.