Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Sells 26,218 Shares

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 26,218 shares of the firm’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $11.95, for a total value of $313,305.10. Following the transaction, the insider owned 1,646,578 shares of the company’s stock, valued at $19,676,607.10. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large 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 Thursday, February 5th, Saba Capital Management, L.P. sold 7,824 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $12.02, for a total value of $94,044.48.

Ellsworth Growth and Income Fund Price Performance

NYSE:ECF opened at $12.05 on Tuesday. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $8.15 and a fifty-two week high of $12.65. The company has a 50 day simple moving average of $12.02 and a two-hundred day simple moving average of $11.68.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, November 24th were paid a dividend of $0.41 per share. This is a boost from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.16. This represents a $1.64 dividend on an annualized basis and a yield of 13.6%. The ex-dividend date of this dividend was Monday, November 24th.

Institutional Trading of Ellsworth Growth and Income Fund

A number of large investors have recently bought and sold shares of ECF. Raymond James Financial Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the company’s stock valued at $934,000 after purchasing an additional 996 shares during the period. Uhlmann Price Securities LLC increased its holdings in Ellsworth Growth and Income Fund by 1.7% in the third quarter. Uhlmann Price Securities LLC now owns 67,837 shares of the company’s stock worth $787,000 after purchasing an additional 1,157 shares in the last quarter. Baird Financial Group Inc. lifted its stake in Ellsworth Growth and Income Fund by 1.0% in the second quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock valued at $1,488,000 after buying an additional 1,475 shares during the period. Osaic Holdings Inc. boosted its holdings in shares of Ellsworth Growth and Income Fund by 11.1% during the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock worth $157,000 after buying an additional 1,535 shares in the last quarter. Finally, Guggenheim Capital LLC grew its position in shares of Ellsworth Growth and Income Fund by 5.0% during the 2nd quarter. Guggenheim Capital LLC now owns 148,511 shares of the company’s stock worth $1,522,000 after buying an additional 7,089 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

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.