Insider Buying: Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Purchases 34,285 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 34,285 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was bought at an average price of $9.05 per share, with a total value of $310,279.25. Following the completion of the acquisition, the insider now owns 1,438,272 shares of the company's stock, valued at $13,016,361.60. This trade represents a 2.44 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

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

• On Thursday, April 3rd, Saba Capital Management, L.P. purchased 33,476 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $8.88 per share, for a total transaction of $297,266.88.

Ellsworth Growth and Income Fund Trading Up 1.9 %

Shares of ECF stock traded up $0.16 on Tuesday, reaching $8.42. 95,841 shares of the stock were exchanged, compared to its average volume of 41,823. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $7.55 and a 1-year high of $10.14. The firm has a 50 day moving average of $9.51 and a two-hundred day moving average of $9.54.

Ellsworth Growth and Income Fund Cuts Dividend

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

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several hedge funds and other institutional investors have recently modified their holdings of the company. Bulldog Investors LLP raised its holdings in Ellsworth Growth and Income Fund by 238.2% in the fourth quarter. Bulldog Investors LLP now owns 314,426 shares of the company's stock valued at $3,045,000 after buying an additional 221,447 shares during the period. Sit Investment Associates Inc. raised its stake in shares of Ellsworth Growth and Income Fund by 161.5% in the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company's stock valued at $3,084,000 after acquiring an additional 196,567 shares during the period. Advisors Asset Management Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 61.4% during the 4th quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company's stock valued at $3,575,000 after acquiring an additional 140,392 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Ellsworth Growth and Income Fund during the 4th quarter worth $881,000. Finally, Capstone Investment Advisors LLC increased its holdings in Ellsworth Growth and Income Fund by 179.8% in the 4th quarter. Capstone Investment Advisors LLC now owns 79,774 shares of the company's stock valued at $773,000 after purchasing an additional 51,262 shares in the last quarter. 35.88% of the stock is owned by institutional investors and hedge funds.

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.