Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $71,947.26 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) major shareholder Saba Capital Management, L.P. purchased 5,742 shares of the company’s stock in a transaction on Friday, August 21st. The stock was bought at an average cost of $12.53 per share, for a total transaction of $71,947.26. Following the acquisition, the insider directly owned 1,611,562 shares of the company’s stock, valued at $20,192,871.86. This represents a 0.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Major shareholders that own more than 10% 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 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Stock Performance

Shares of NYSEAMERICAN:ECF opened at $12.47 on Thursday. The firm has a 50 day simple moving average of $12.70 and a 200 day simple moving average of $12.38. 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 company also recently declared 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. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its stake in shares of Ellsworth Growth and Income Fund by 72.9% in the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after acquiring an additional 166,043 shares during the last quarter. Pathstone Holdings LLC raised its stake in Ellsworth Growth and Income Fund by 42.0% during the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter valued at $1,076,000. Evolve Private Wealth LLC bought a new stake in Ellsworth Growth and Income Fund in the 4th quarter valued at $811,000. Finally, Saba Capital Management L.P. boosted its holdings in Ellsworth Growth and Income Fund by 2.8% in the 4th quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock valued at $19,546,000 after purchasing an additional 45,368 shares during the period. Institutional investors and hedge funds 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.