Insider Buying: Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) Major Shareholder Purchases 14,065 Shares of Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Get Free Report) major shareholder Saba Capital Management, L.P. bought 14,065 shares of Ellsworth Growth and Income Fund stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average cost of $8.64 per share, with a total value of $121,521.60. Following the completion of the purchase, the insider now owns 1,559,675 shares in the company, valued at approximately $13,475,592. This trade represents a 0.91 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% 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 Tuesday, April 8th, Saba Capital Management, L.P. purchased 11,276 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost of $8.37 per share, with a total value of $94,380.12.
• On Thursday, April 3rd, Saba Capital Management, L.P. bought 33,476 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $8.88 per share, with a total value of $297,266.88.
• On Tuesday, April 1st, Saba Capital Management, L.P. purchased 34,285 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $9.05 per share, for a total transaction of $310,279.25.

Ellsworth Growth and Income Fund Trading Up 0.6 %

Shares of Ellsworth Growth and Income Fund stock traded up $0.05 during trading hours on Friday, reaching $8.71. 32,659 shares of the company's stock were exchanged, compared to its average volume of 42,444. The company has a 50 day moving average of $9.28 and a two-hundred day moving average of $9.52. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $7.55 and a fifty-two week high of $10.14.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 17th were given a dividend of $0.13 per share. The ex-dividend date was Monday, March 17th. This represents a $0.52 annualized dividend and a yield of 5.97%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in ECF. Raymond James Financial Inc. bought a new position in shares of Ellsworth Growth and Income Fund in the fourth quarter valued at $881,000. Advisors Asset Management Inc. grew its position in shares of 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 valued at $3,575,000 after acquiring an additional 140,392 shares during the period. Sit Investment Associates Inc. increased its stake in shares of Ellsworth Growth and Income Fund by 161.5% during the 4th quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company's stock worth $3,084,000 after purchasing an additional 196,567 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Ellsworth Growth and Income Fund by 7.3% in the 4th quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company's stock valued at $698,000 after purchasing an additional 4,715 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its holdings in shares of Ellsworth Growth and Income Fund by 8.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 138,308 shares of the company's stock valued at $1,340,000 after purchasing an additional 10,574 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 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.