Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 2,600 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were purchased at an average cost of $11.58 per share, with a total value of $30,108.00. Following the completion of the acquisition, the insider owned 1,792,455 shares in the company, valued at approximately $20,756,628.90. This represents a 0.15% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available 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, October 20th, Saba Capital Management, L.P. purchased 1,830 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average cost of $11.39 per share, with a total value of $20,843.70.
- On Monday, October 19th, Saba Capital Management, L.P. purchased 17,079 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average cost of $11.47 per share, for a total transaction of $195,896.13.
- On Friday, October 16th, Saba Capital Management, L.P. bought 16,347 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.65 per share, for a total transaction of $190,442.55.
- On Thursday, October 15th, Saba Capital Management, L.P. bought 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average price of $11.62 per share, with a total value of $115,839.78.
- On Wednesday, October 14th, Saba Capital Management, L.P. purchased 56,083 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.74 per share, with a total value of $658,414.42.
- On Monday, October 12th, Saba Capital Management, L.P. bought 14,600 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.03 per share, for a total transaction of $175,638.00.
- On Thursday, October 8th, Saba Capital Management, L.P. acquired 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average price of $11.95 per share, for a total transaction of $333,847.15.
- On Wednesday, October 7th, Saba Capital Management, L.P. acquired 17,548 shares of Ellsworth Growth and Income Fund stock. The stock was bought at an average price of $11.97 per share, with a total value of $210,049.56.
- On Friday, September 4th, Saba Capital Management, L.P. acquired 6,800 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average cost of $12.36 per share, for a total transaction of $84,048.00.
- On Thursday, September 3rd, Saba Capital Management, L.P. purchased 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was acquired at an average price of $12.25 per share, for a total transaction of $61,250.00.
Ellsworth Growth and Income Fund Trading Down 2.8%
Ellsworth Growth and Income Fund stock traded down $0.33 during mid-day trading on Thursday, hitting $11.47. The company’s stock had a trading volume of 9,045 shares, compared to its average volume of 32,908. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $10.70 and a twelve month high of $13.85. The stock’s fifty day moving average price is $12.21 and its two-hundred day moving average price is $12.51.
Ellsworth Growth and Income Fund Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were issued a $0.22 dividend. The ex-dividend date was Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 7.7%. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19.
Institutional Trading of Ellsworth Growth and Income Fund
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capstone Investment Advisors LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter valued at $1,076,000. Evolve Private Wealth LLC acquired a new stake in shares of Ellsworth Growth and Income Fund in the second quarter valued at approximately $875,000. Royal Bank of Canada boosted its holdings in Ellsworth Growth and Income Fund by 16.8% in the first quarter. Royal Bank of Canada now owns 55,309 shares of the investment management company’s stock valued at $617,000 after acquiring an additional 7,955 shares during the last quarter. Waverly Advisors LLC boosted its stake in shares of Ellsworth Growth and Income Fund by 3.2% in the 1st quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company’s stock valued at $474,000 after purchasing an additional 1,300 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in Ellsworth Growth and Income Fund by 7.6% during the 1st quarter. Private Advisor Group LLC now owns 27,015 shares of the investment management company’s stock worth $301,000 after acquiring an additional 1,916 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.
About Ellsworth Growth and Income Fund
Ellsworth Growth and Income Fund, Inc is a closed-end management investment company listed on the NYSE American under the symbol ECF. The fund seeks to provide investors with current income and long-term capital appreciation through a professionally managed portfolio of securities.
The fund invests primarily in convertible securities, including convertible bonds and preferred stocks, as well as common stocks and other income-producing investments. Convertible securities may provide regular income while also offering the potential to participate in the appreciation of the underlying companies’ common shares.
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