Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 1,200 Shares

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 1,200 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was acquired at an average price of $12.47 per share, for a total transaction of $14,964.00. Following the acquisition, the insider owned 1,616,662 shares in the company, valued at $20,159,775.14. This trade represents a 0.07% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

• On Thursday, August 27th, Saba Capital Management, L.P. bought 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. acquired 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.53 per share, for a total transaction of $71,947.26.
• On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.52 per share, for a total transaction of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

NYSEAMERICAN:ECF opened at $12.19 on Wednesday. Ellsworth Growth and Income Fund Ltd. has a 52 week low of $10.70 and a 52 week high of $13.85. The stock’s 50-day moving average price is $12.62 and its 200-day moving average price is $12.39.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.2%. This is an increase from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in Ellsworth Growth and Income Fund during the second quarter worth about $28,000. Gilpin Wealth Management LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 4th quarter valued at $47,000. Readystate Asset Management LP purchased a new position in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth $154,000. Osaic Holdings Inc. grew its holdings in shares of Ellsworth Growth and Income Fund by 11.1% during the 2nd 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 during the period. Finally, Beckerman Institutional LLC acquired a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth about $169,000. Hedge funds and other institutional investors 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.