Sit Investment Associates Inc. Boosts Holdings in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)

Sit Investment Associates Inc. raised its holdings in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Free Report) by 161.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 318,285 shares of the company's stock after acquiring an additional 196,567 shares during the quarter. Sit Investment Associates Inc. owned approximately 2.31% of Ellsworth Growth and Income Fund worth $3,084,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Raymond James Financial Inc. bought a new position in shares of Ellsworth Growth and Income Fund in the fourth quarter worth about $881,000. Advisors Asset Management Inc. grew its stake in Ellsworth Growth and Income Fund by 61.4% in the 4th quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company's stock worth $3,575,000 after acquiring an additional 140,392 shares in the last quarter. Sanctuary Advisors LLC increased its position in shares of Ellsworth Growth and Income Fund by 7.3% during the fourth quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company's stock worth $698,000 after acquiring an additional 4,715 shares during the period. Blue Bell Private Wealth Management LLC raised its stake in shares of Ellsworth Growth and Income Fund by 8.3% during 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 acquiring an additional 10,574 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC bought a new stake in shares of Ellsworth Growth and Income Fund during the third quarter valued at approximately $288,000. Hedge funds and other institutional investors own 35.88% of the company's stock.

Insider Activity

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. purchased 34,285 shares of the stock in a transaction dated Tuesday, April 1st. The stock was purchased at an average price of $9.05 per share, with a total value of $310,279.25. Following the transaction, the insider now owns 1,438,272 shares of the company's stock, valued at approximately $13,016,361.60. This trade represents a 2.44 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last 90 days, insiders have bought 79,037 shares of company stock worth $701,926. Company insiders own 0.54% of the company's stock.

Ellsworth Growth and Income Fund Stock Up 1.2 %

NYSE:ECF traded up $0.10 during midday trading on Friday, hitting $8.54. The stock had a trading volume of 60,920 shares, compared to its average volume of 42,354. The stock has a 50-day moving average of $9.40 and a 200 day moving average of $9.53. Ellsworth Growth and Income Fund Ltd. has a one year low of $7.55 and a one year high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were given 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.

Ellsworth Growth and Income Fund Profile

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.