Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) Announces Dividend Increase – $1.01 Per Share

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) announced a quarterly dividend on Wednesday, November 11th. Investors of record on Monday, November 23rd will be given a dividend of $1.01 per share by the investment management company on Wednesday, December 30th. This represents a $4.04 dividend on an annualized basis and a yield of 34.6%. The ex-dividend date of this dividend is Monday, November 23rd. This is a 359.1% increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.22.

Ellsworth Growth and Income Fund Stock Up 2.6%

Shares of ECF stock opened at $11.66 on Thursday. The stock’s 50-day moving average is $11.91 and its 200 day moving average is $12.26. Ellsworth Growth and Income Fund has a 1-year low of $10.70 and a 1-year high of $13.85.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 7,747 shares of the business’s stock in a transaction that occurred on Thursday, November 5th. The stock was bought at an average price of $11.34 per share, with a total value of $87,850.98. Following the acquisition, the insider owned 1,821,810 shares in the company, valued at $20,659,325.40. The trade was a 0.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired a total of 217,537 shares of company stock worth $2,573,176 in the last quarter. 0.46% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the second quarter worth approximately $28,000. Readystate Asset Management LP acquired a new stake in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth $154,000. Beckerman Institutional LLC purchased a new position in Ellsworth Growth and Income Fund in the second quarter worth $169,000. Atlas Wealth LLC purchased a new stake in shares of Ellsworth Growth and Income Fund during the 3rd quarter worth approximately $210,000. Finally, Ruggaard & Associates LLC purchased a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at about $248,000. 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. (NYSE American: ECF) is a diversified closed-end management investment company. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities. ECF invests primarily in convertible securities, including convertible bonds and convertible preferred stocks, as well as common stocks. Convertible securities may offer income while also providing the potential to participate in the equity appreciation of the underlying companies.