Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Purchases $297,266.88 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 33,476 shares of the stock in a transaction dated Thursday, April 3rd. The stock was acquired at an average price of $8.88 per share, with a total value of $297,266.88. Following the completion of the purchase, the insider now owns 1,478,789 shares of the company's stock, valued at $13,131,646.32. This represents a 2.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own 10% or more 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 Tuesday, April 8th, Saba Capital Management, L.P. acquired 11,276 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $8.37 per share, with a total value of $94,380.12.
• On Tuesday, April 1st, Saba Capital Management, L.P. purchased 34,285 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $9.05 per share, for a total transaction of $310,279.25.

Ellsworth Growth and Income Fund Stock Performance

NYSE:ECF traded up $0.10 on Friday, hitting $8.54. 60,920 shares of the stock were exchanged, compared to its average volume of 42,354. Ellsworth Growth and Income Fund Ltd. has a 52 week low of $7.55 and a 52 week high of $10.14. The company's 50-day moving average price is $9.40 and its 200 day moving average price is $9.53.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.09%. The ex-dividend date of this dividend was Monday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Several large investors have recently bought and sold shares of the business. Kovitz Investment Group Partners LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the 3rd quarter valued at $288,000. Sanctuary Advisors LLC grew its stake in shares of Ellsworth Growth and Income Fund by 310.0% during the third quarter. Sanctuary Advisors LLC now owns 64,655 shares of the company's stock worth $628,000 after purchasing an additional 48,887 shares during the period. Raymond James Financial Inc. bought a new stake in Ellsworth Growth and Income Fund in the fourth quarter valued at about $881,000. Blue Bell Private Wealth Management LLC lifted its stake in Ellsworth Growth and Income Fund by 8.3% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company's stock valued at $1,340,000 after buying an additional 10,574 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in Ellsworth Growth and Income Fund by 61.4% during the fourth quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company's stock worth $3,575,000 after buying an additional 140,392 shares during the last quarter. 35.88% of the stock is currently 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.