Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Buys 33,476 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. purchased 33,476 shares of Ellsworth Growth and Income Fund stock in a transaction on Thursday, April 3rd. The shares were acquired at an average cost of $8.88 per share, for a total transaction of $297,266.88. Following the completion of the transaction, the insider now owns 1,478,789 shares of the company’s stock, valued at $13,131,646.32. This represents a 2.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% 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 1st, Saba Capital Management, L.P. bought 34,285 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $9.05 per share, for a total transaction of $310,279.25.

Ellsworth Growth and Income Fund Stock Performance

NYSE:ECF opened at $8.42 on Wednesday. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $7.55 and a twelve month high of $10.14. The firm’s fifty day simple moving average is $9.51 and its 200 day simple moving average is $9.54.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 6.18%. The ex-dividend date was Monday, March 17th.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its holdings in Ellsworth Growth and Income Fund by 61.4% in the 4th 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 period. Sit Investment Associates Inc. boosted its stake in shares of Ellsworth Growth and Income Fund by 161.5% in the fourth quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company’s stock valued at $3,084,000 after purchasing an additional 196,567 shares during the period. Bulldog Investors LLP grew 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 valued at $3,045,000 after purchasing an additional 221,447 shares in the last quarter. Guggenheim Capital LLC grew its holdings 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 valued at $1,545,000 after purchasing an additional 8,245 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC increased its stake 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 worth $1,340,000 after buying an additional 10,574 shares during the period. 35.88% of the stock is currently owned by hedge funds and other institutional investors.

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.