Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Acquires 11,276 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. purchased 11,276 shares of the business’s stock in a transaction dated Tuesday, April 8th. The shares were purchased at an average price of $8.37 per share, with a total value of $94,380.12. Following the purchase, the insider now directly owns 1,545,610 shares in the company, valued at $12,936,755.70. This trade represents a 0.73 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own more than 10% 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 Thursday, April 3rd, Saba Capital Management, L.P. acquired 33,476 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $297,266.88.
• On Tuesday, April 1st, Saba Capital Management, L.P. bought 34,285 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $9.05 per share, with a total value of $310,279.25.

Ellsworth Growth and Income Fund Price Performance

NYSE ECF opened at $8.44 on Friday. The company’s 50 day moving average is $9.43 and its 200-day moving average is $9.53. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $7.55 and a 12-month high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were issued a dividend of $0.13 per share. The ex-dividend date was Monday, March 17th. This represents a $0.52 dividend on an annualized basis and a yield of 6.16%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Several institutional investors have recently made changes to their positions in the stock. K2 Principal Fund L.P. purchased a new position in shares of Ellsworth Growth and Income Fund in the fourth quarter valued at $147,000. Kovitz Investment Group Partners LLC bought a new position in Ellsworth Growth and Income Fund in the 3rd quarter worth about $288,000. Waverly Advisors LLC purchased a new position in Ellsworth Growth and Income Fund during the 4th quarter valued at about $430,000. Sanctuary Advisors LLC increased its position in shares of Ellsworth Growth and Income Fund by 310.0% during the third quarter. Sanctuary Advisors LLC now owns 64,655 shares of the company’s stock valued at $628,000 after buying an additional 48,887 shares during the period. Finally, Capstone Investment Advisors LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 179.8% in the fourth quarter. Capstone Investment Advisors LLC now owns 79,774 shares of the company’s stock worth $773,000 after buying an additional 51,262 shares in the last quarter. Hedge funds and other institutional investors own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.