Insider Buying: Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Purchases $30,108.00 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 2,600 shares of the business’s stock in a transaction dated Wednesday, October 21st. The shares were acquired at an average price of $11.58 per share, for a total transaction of $30,108.00. Following the acquisition, the insider owned 1,792,455 shares of the company’s stock, valued at $20,756,628.90. This trade represents a 0.15% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

• On Tuesday, October 20th, Saba Capital Management, L.P. acquired 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $11.39 per share, for a total transaction of $20,843.70.
• On Monday, October 19th, Saba Capital Management, L.P. purchased 17,079 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.47 per share, for a total transaction of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. bought 16,347 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.65 per share, for a total transaction of $190,442.55.
• On Thursday, October 15th, Saba Capital Management, L.P. acquired 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.62 per share, with a total value of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. purchased 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $11.74 per share, with a total value of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. bought 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.03 per share, with a total value of $175,638.00.
• On Thursday, October 8th, Saba Capital Management, L.P. acquired 27,937 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.95 per share, with a total value of $333,847.15.
• On Wednesday, October 7th, Saba Capital Management, L.P. purchased 17,548 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.97 per share, with a total value of $210,049.56.
• On Friday, September 4th, Saba Capital Management, L.P. bought 6,800 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.36 per share, with a total value of $84,048.00.
• On Thursday, September 3rd, Saba Capital Management, L.P. bought 5,000 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.25 per share, for a total transaction of $61,250.00.

Ellsworth Growth and Income Fund Stock Performance

ECF opened at $11.40 on Friday. The company’s fifty day moving average price is $12.14 and its two-hundred day moving average price is $12.50. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $10.70 and a 1-year high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 7.7%. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, September 16th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in ECF. Capstone Investment Advisors LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth $1,076,000. Evolve Private Wealth LLC bought a new position in Ellsworth Growth and Income Fund during the second quarter worth about $875,000. K2 Principal Fund L.P. bought a new position in Ellsworth Growth and Income Fund during the second quarter worth about $325,000. Ruggaard & Associates LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the second quarter worth about $248,000. Finally, Beckerman Institutional LLC purchased a new position in shares of Ellsworth Growth and Income Fund in the second quarter worth about $169,000. Hedge funds and other institutional investors own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.