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

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

Ellsworth Growth and Income Fund Trading Up 1.2 %

ECF opened at $8.54 on Friday. The firm’s 50 day moving average is $9.40 and its 200-day moving average is $9.53. Ellsworth Growth and Income Fund Ltd. has a 52-week low of $7.55 and a 52-week high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 6.09%. The ex-dividend date was Monday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in shares of Ellsworth Growth and Income Fund by 61.4% during the fourth quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company’s stock worth $3,575,000 after acquiring an additional 140,392 shares during the last quarter. Sit Investment Associates Inc. increased its holdings in Ellsworth Growth and Income Fund by 161.5% during the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company’s stock worth $3,084,000 after purchasing an additional 196,567 shares during the last quarter. Bulldog Investors LLP increased its holdings in Ellsworth Growth and Income Fund by 238.2% during the 4th quarter. Bulldog Investors LLP now owns 314,426 shares of the company’s stock worth $3,045,000 after purchasing an additional 221,447 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Ellsworth Growth and Income Fund by 5.5% in the 4th 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 in the last quarter. Finally, Blue Bell Private Wealth Management LLC boosted 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 during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.