Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Saba Capital Management, L.P. Sells 7,824 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 7,824 shares of the company’s stock in a transaction that occurred on Thursday, February 5th. The shares were sold at an average price of $12.02, for a total value of $94,044.48. Following the completion of the transaction, the insider directly owned 1,672,796 shares of the company’s stock, valued at $20,107,007.92. This trade represents a 0.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Saba Capital Management, L.P. also recently made the following trade(s):

• On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $11.95, for a total transaction of $313,305.10.

Ellsworth Growth and Income Fund Stock Up 2.1%

Shares of ECF stock opened at $12.05 on Tuesday. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $8.15 and a 1 year high of $12.65. The stock’s 50-day moving average is $12.02 and its two-hundred day moving average is $11.68.

Ellsworth Growth and Income Fund Increases Dividend

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

Institutional Trading of Ellsworth Growth and Income Fund

Large investors have recently bought and sold shares of the business. Osaic Holdings Inc. increased its stake in Ellsworth Growth and Income Fund by 11.1% in the second quarter. Osaic Holdings Inc. now owns 15,356 shares of the company’s stock valued at $157,000 after purchasing an additional 1,535 shares during the period. PMG Family Office LLC purchased a new position in shares of Ellsworth Growth and Income Fund during the third quarter worth about $212,000. Uhlmann Price Securities LLC grew its holdings in shares of Ellsworth Growth and Income Fund by 10.3% during the second quarter. Uhlmann Price Securities LLC now owns 66,680 shares of the company’s stock worth $683,000 after buying an additional 6,202 shares during the last quarter. NewEdge Advisors LLC increased its position in Ellsworth Growth and Income Fund by 44.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the company’s stock valued at $773,000 after acquiring an additional 23,340 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Ellsworth Growth and Income Fund by 1.3% during the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the company’s stock valued at $934,000 after acquiring an additional 996 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.