Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock Crosses Below 200 Day Moving Average – What’s Next?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF)’s share price crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.88 and traded as low as $10.81. Ellsworth Growth and Income Fund shares last traded at $10.82, with a volume of 34,968 shares changing hands.

Ellsworth Growth and Income Fund Stock Performance

The company’s 50 day moving average is $11.88 and its 200 day moving average is $11.88.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th were given a dividend of $0.19 per share. The ex-dividend date was Tuesday, March 17th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 7.0%.

Insider Buying and Selling at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of the business’s stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $12.16, for a total value of $177,426.56. Following the completion of the sale, the insider directly owned 1,604,273 shares of the company’s stock, valued at approximately $19,507,959.68. The trade was a 0.90% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 76,347 shares of company stock valued at $923,828. 0.54% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in Ellsworth Growth and Income Fund by 33.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the investment management company’s stock valued at $2,643,000 after acquiring an additional 57,520 shares during the period. Blue Bell Private Wealth Management LLC lifted its position in Ellsworth Growth and Income Fund by 15.4% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 185,809 shares of the investment management company’s stock worth $2,155,000 after acquiring an additional 24,777 shares during the period. Guggenheim Capital LLC grew its stake in shares of Ellsworth Growth and Income Fund by 5.0% in the 2nd quarter. Guggenheim Capital LLC now owns 148,511 shares of the investment management company’s stock valued at $1,522,000 after purchasing an additional 7,089 shares during the last quarter. Invesco Ltd. grew its stake in shares of Ellsworth Growth and Income Fund by 31.2% in the 2nd quarter. Invesco Ltd. now owns 161,109 shares of the investment management company’s stock valued at $1,651,000 after purchasing an additional 38,271 shares during the last quarter. Finally, Raymond James Financial Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 1.3% in the third quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company’s stock valued at $934,000 after purchasing an additional 996 shares during the period. 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 (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.

ECF’s investment strategy emphasizes a disciplined, research-driven approach.