Saba Capital Management, L.P. Sells 6,072 Shares of Ellsworth Growth and Income Fund (NYSE:ECF) Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 6,072 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $12.20, for a total value of $74,078.40. Following the transaction, the insider directly owned 1,618,864 shares in the company, valued at $19,750,140.80. The trade was a 0.37% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Major shareholders that own 10% or more 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 Wednesday, February 18th, Saba Capital Management, L.P. sold 14,591 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $12.16, for a total value of $177,426.56.
• On Friday, February 13th, Saba Capital Management, L.P. sold 7,532 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $12.25, for a total transaction of $92,267.00.
• On Wednesday, February 11th, Saba Capital Management, L.P. sold 14,110 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.24, for a total transaction of $172,706.40.
• On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $11.95, for a total transaction 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 shares were sold at an average price of $12.02, for a total transaction of $94,044.48.

Ellsworth Growth and Income Fund Price Performance

NYSE ECF opened at $12.02 on Friday. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $8.15 and a 1-year high of $12.65. The firm’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $11.77.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Tuesday, March 17th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Large investors have recently made changes to their positions in the company. K2 Principal Fund L.P. increased its holdings in Ellsworth Growth and Income Fund by 3.5% in the fourth quarter. K2 Principal Fund L.P. now owns 24,619 shares of the company’s stock worth $286,000 after buying an additional 834 shares during the last quarter. Raymond James Financial Inc. grew its position in Ellsworth Growth and Income Fund by 1.3% in the third quarter. Raymond James Financial Inc. now owns 80,538 shares of the company’s stock worth $934,000 after acquiring an additional 996 shares in the last quarter. Uhlmann Price Securities LLC increased its stake in shares of Ellsworth Growth and Income Fund by 1.7% during the 3rd quarter. Uhlmann Price Securities LLC now owns 67,837 shares of the company’s stock worth $787,000 after purchasing an additional 1,157 shares during the last quarter. Baird Financial Group Inc. increased its stake in shares of Ellsworth Growth and Income Fund by 1.0% during the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock worth $1,488,000 after purchasing an additional 1,475 shares during the last quarter. Finally, Osaic Holdings Inc. raised 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 company’s stock valued at $157,000 after purchasing an additional 1,535 shares in the last quarter. 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.