Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Purchases $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 Ellsworth Growth and Income Fund stock in a transaction dated Tuesday, April 1st. The shares were bought at an average price of $9.05 per share, for a total transaction of $310,279.25. Following the completion of the transaction, the insider now directly owns 1,438,272 shares of the company’s stock, valued at $13,016,361.60. This represents a 2.44 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Ellsworth Growth and Income Fund Stock Performance

ECF stock opened at $8.59 on Friday. The company has a 50 day moving average price of $9.61 and a 200 day moving average price of $9.55. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $7.55 and a fifty-two week high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

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

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Large investors have recently made changes to their positions in the company. Sanctuary Advisors LLC increased its position in Ellsworth Growth and Income Fund by 7.3% in the fourth quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company’s stock worth $698,000 after purchasing an additional 4,715 shares during the period. Guggenheim Capital LLC grew its position in shares of Ellsworth Growth and Income Fund by 5.5% during the 4th quarter. Guggenheim Capital LLC now owns 159,410 shares of the company’s stock worth $1,545,000 after buying an additional 8,245 shares during the period. Blue Bell Private Wealth Management LLC lifted its holdings in Ellsworth Growth and Income Fund by 8.3% in the fourth 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 period. K2 Principal Fund L.P. acquired a new position in Ellsworth Growth and Income Fund in the fourth quarter valued at approximately $147,000. Finally, Kovitz Investment Group Partners LLC bought a new position in Ellsworth Growth and Income Fund in the third quarter valued at approximately $288,000. Institutional investors and hedge funds 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.