Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Acquires $297,266.88 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. bought 33,476 shares of the stock in a transaction dated Thursday, April 3rd. The shares were purchased at an average price of $8.88 per share, for a total transaction of $297,266.88. Following the purchase, the insider now owns 1,478,789 shares of the company’s stock, valued at $13,131,646.32. This trade represents a 2.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Large 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 Tuesday, April 1st, Saba Capital Management, L.P. acquired 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 Trading Down 3.1 %

Shares of ECF stock traded down $0.27 during trading on Monday, hitting $8.32. The company had a trading volume of 109,400 shares, compared to its average volume of 42,449. The stock’s 50-day moving average price is $9.61 and its 200 day moving average price is $9.56. Ellsworth Growth and Income Fund Ltd. has a one year low of $7.55 and a one year high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 6.25%. The ex-dividend date of this dividend was Monday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Advisors Asset Management Inc. lifted its holdings 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 purchasing an additional 140,392 shares during the period. Sanctuary Advisors LLC increased its stake in shares of 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 valued at $698,000 after buying an additional 4,715 shares during the period. Raymond James Financial Inc. bought a new position in shares of Ellsworth Growth and Income Fund during the fourth quarter worth about $881,000. Blue Bell Private Wealth Management LLC lifted its stake in shares of 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 worth $1,340,000 after acquiring an additional 10,574 shares during the period. Finally, Kovitz Investment Group Partners LLC bought a new stake in Ellsworth Growth and Income Fund in the third quarter valued at approximately $288,000. 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.