Ellsworth Growth and Income Fund (NYSE:ECF) Trading Up 0.1% – Here’s Why

Shares of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) traded up 0.1% during trading on Wednesday . The stock traded as high as $11.94 and last traded at $11.83. 13,413 shares were traded during mid-day trading, a decline of 65% from the average session volume of 38,221 shares. The stock had previously closed at $11.82.

Ellsworth Growth and Income Fund Trading Up 0.1%

The firm’s fifty day simple moving average is $11.91 and its 200-day simple moving average is $11.23.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Stockholders of record on Monday, November 24th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 13.9%. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16.

Insider Activity at Ellsworth Growth and Income Fund

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. bought 33,764 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The stock was acquired at an average price of $12.15 per share, with a total value of $410,232.60. Following the completion of the purchase, the insider directly owned 1,680,620 shares of the company’s stock, valued at approximately $20,419,533. This trade represents a 2.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. AdvisorNet Financial Inc acquired a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $31,000. Osaic Holdings Inc. boosted its stake in Ellsworth Growth and Income Fund by 11.1% during the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock worth $157,000 after acquiring an additional 1,535 shares in the last quarter. PMG Family Office LLC bought a new position in Ellsworth Growth and Income Fund during the third quarter worth $212,000. K2 Principal Fund L.P. grew its holdings in Ellsworth Growth and Income Fund by 56.6% in the first quarter. K2 Principal Fund L.P. now owns 23,785 shares of the company’s stock worth $216,000 after purchasing an additional 8,592 shares during the period. Finally, Uhlmann Price Securities LLC increased its stake in Ellsworth Growth and Income Fund by 10.3% in the second quarter. Uhlmann Price Securities LLC now owns 66,680 shares of the company’s stock valued at $683,000 after purchasing an additional 6,202 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

Ellsworth Growth and Income Fund Company Profile

Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.

The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.