Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Sells 14,110 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 14,110 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $12.24, for a total transaction of $172,706.40. Following the completion of the transaction, the insider directly owned 1,632,468 shares in the company, valued at approximately $19,981,408.32. The trade was a 0.86% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

• On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $11.95, for a total value of $313,305.10.
• On Thursday, February 5th, Saba Capital Management, L.P. sold 7,824 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.02, for a total transaction of $94,044.48.

Ellsworth Growth and Income Fund Stock Performance

Shares of Ellsworth Growth and Income Fund stock opened at $12.19 on Friday. The stock’s 50-day simple moving average is $12.05 and its 200-day simple moving average is $11.70. Ellsworth Growth and Income Fund Ltd. has a 52 week low of $8.15 and a 52 week high of $12.65.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.76 annualized dividend and a yield of 6.2%.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several large investors have recently modified their holdings of ECF. Raymond James Financial Inc. grew its position in Ellsworth Growth and Income Fund by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the company’s stock valued at $934,000 after acquiring an additional 996 shares during the last quarter. Uhlmann Price Securities LLC boosted its stake in shares of Ellsworth Growth and Income Fund by 1.7% during the third quarter. Uhlmann Price Securities LLC now owns 67,837 shares of the company’s stock valued at $787,000 after purchasing an additional 1,157 shares in the last quarter. Baird Financial Group Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,475 shares during the period. Osaic Holdings Inc. lifted its position in shares of Ellsworth Growth and Income Fund by 11.1% during the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock valued at $157,000 after buying an additional 1,535 shares during the last quarter. Finally, Gilpin Wealth Management LLC acquired a new stake in Ellsworth Growth and Income Fund in the fourth quarter valued at approximately $47,000. Institutional investors own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.