Insider Buying: Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Purchases 14,065 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. bought 14,065 shares of the business’s stock in a transaction on Monday, April 14th. The shares were acquired at an average cost of $8.64 per share, for a total transaction of $121,521.60. Following the transaction, the insider now directly owns 1,559,675 shares in the company, valued at approximately $13,475,592. This trade represents a 0.91 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock 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 8th, Saba Capital Management, L.P. acquired 11,276 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $8.37 per share, for a total transaction of $94,380.12.
• On Thursday, April 3rd, Saba Capital Management, L.P. bought 33,476 shares of Ellsworth Growth and Income Fund stock. The shares were bought 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. acquired 34,285 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $9.05 per share, with a total value of $310,279.25.

Ellsworth Growth and Income Fund Trading Up 0.6 %

Shares of Ellsworth Growth and Income Fund stock opened at $8.71 on Friday. The company has a 50-day simple moving average of $9.30 and a two-hundred day simple moving average of $9.52. 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 company also recently disclosed 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. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.52 annualized dividend and a dividend yield of 5.97%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of ECF. Sanctuary Advisors LLC increased its position in shares of Ellsworth Growth and Income Fund by 7.3% during 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 in the last quarter. Guggenheim Capital LLC grew its stake in 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 last quarter. Blue Bell Private Wealth Management LLC increased its position in 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. purchased a new stake in Ellsworth Growth and Income Fund in the fourth quarter valued at about $147,000. Finally, Waverly Advisors LLC purchased a new stake in Ellsworth Growth and Income Fund in the fourth quarter valued at about $430,000. 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.