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. acquired 34,285 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was acquired at an average price of $9.05 per share, with a total value of $310,279.25. Following 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 Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Ellsworth Growth and Income Fund Stock Performance

Shares of NYSE:ECF traded down $0.28 on Thursday, reaching $8.89. 160,408 shares of the company were exchanged, compared to its average volume of 41,155. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $7.55 and a 1-year high of $10.14. The company has a 50-day moving average of $9.66 and a 200-day moving average of $9.56.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a dividend of $0.13 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.85%.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in 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 last quarter. Sanctuary Advisors LLC boosted its position in shares of 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 worth $698,000 after buying an additional 4,715 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in Ellsworth Growth and Income Fund by 8.3% in 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 acquiring an additional 10,574 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in Ellsworth Growth and Income Fund during the 3rd quarter valued at about $288,000. Finally, Waverly Advisors LLC acquired a new position in Ellsworth Growth and Income Fund during the fourth quarter worth about $430,000. 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.