Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $12,337.50 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. acquired 1,050 shares of the stock in a transaction that occurred on Wednesday, October 28th. The shares were bought at an average price of $11.75 per share, with a total value of $12,337.50. Following the completion of the purchase, the insider owned 1,796,523 shares in the company, valued at $21,109,145.25. The trade was a 0.06% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 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 Thursday, October 29th, Saba Capital Management, L.P. bought 5,975 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.87 per share, for a total transaction of $70,923.25.
• On Tuesday, October 27th, Saba Capital Management, L.P. bought 400 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.63 per share, for a total transaction of $4,652.00.
• On Monday, October 26th, Saba Capital Management, L.P. bought 2,618 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.43 per share, for a total transaction of $29,923.74.
• On Wednesday, October 21st, Saba Capital Management, L.P. purchased 2,600 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.58 per share, with a total value of $30,108.00.
• On Tuesday, October 20th, Saba Capital Management, L.P. purchased 1,830 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $11.39 per share, with a total value 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 shares were purchased at an average price of $11.47 per share, with a total value of $195,896.13.
• On Friday, October 16th, Saba Capital Management, L.P. purchased 16,347 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.65 per share, with a total value 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 stock was purchased at an average cost of $11.62 per share, for a total transaction of $115,839.78.
• On Wednesday, October 14th, Saba Capital Management, L.P. acquired 56,083 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $11.74 per share, for a total transaction of $658,414.42.
• On Monday, October 12th, Saba Capital Management, L.P. acquired 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.03 per share, for a total transaction of $175,638.00.

Ellsworth Growth and Income Fund Price Performance

Ellsworth Growth and Income Fund stock opened at $11.72 on Friday. The firm has a 50-day moving average price of $12.05 and a two-hundred day moving average price of $12.29. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $10.70 and a 52-week high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.5%. 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 Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Bell Private Wealth Management LLC lifted its holdings in Ellsworth Growth and Income Fund by 19.2% in the third quarter. Blue Bell Private Wealth Management LLC now owns 285,041 shares of the investment management company’s stock worth $3,341,000 after purchasing an additional 45,897 shares during the period. Readystate Asset Management LP bought a new position in Ellsworth Growth and Income Fund in the 2nd quarter valued at about $154,000. Ruggaard & Associates LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at about $248,000. Capstone Investment Advisors LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at about $1,076,000. Finally, Evolve Private Wealth LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at about $875,000. Institutional investors own 35.88% of the company’s stock.

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.