Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Buys $310,279.25 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. bought 34,285 shares of the company’s stock in a transaction on Tuesday, April 1st. The stock was bought at an average price of $9.05 per share, for a total transaction of $310,279.25. Following the completion of the purchase, the insider now owns 1,438,272 shares of the company’s stock, valued at approximately $13,016,361.60. The trade was a 2.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

Ellsworth Growth and Income Fund Stock Down 3.4 %

NYSE:ECF opened at $8.59 on Friday. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $7.55 and a 12 month high of $10.14. The firm’s 50 day moving average is $9.61 and its 200 day moving average is $9.55.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 17th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.52 annualized dividend and a dividend yield of 6.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ECF. Sanctuary Advisors LLC raised its stake in Ellsworth Growth and Income Fund by 7.3% in the 4th quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock valued at $698,000 after acquiring an additional 4,715 shares during the period. Guggenheim Capital LLC raised its position in shares of Ellsworth Growth and Income Fund by 5.5% in the fourth quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock valued at $1,545,000 after purchasing an additional 8,245 shares during the period. Blue Bell Private Wealth Management LLC lifted its stake in shares of Ellsworth Growth and Income Fund by 8.3% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company’s stock valued at $1,340,000 after buying an additional 10,574 shares in the last quarter. K2 Principal Fund L.P. bought a new position in Ellsworth Growth and Income Fund in the 4th quarter worth approximately $147,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in Ellsworth Growth and Income Fund in the 3rd quarter valued at approximately $288,000. 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.