Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock: Insider Saba Capital Management, L.P. Purchases 9,969 Shares

by · The Cerbat Gem

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF – Get Free Report) major shareholder Saba Capital Management, L.P. bought 9,969 shares of the business’s stock in a transaction on Thursday, October 15th. The stock was bought at an average price of $11.62 per share, for a total transaction of $115,839.78. Following the completion of the purchase, the insider directly owned 1,754,599 shares of the company’s stock, valued at $20,388,440.38. The trade was a 0.57% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • 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 cost of $11.74 per share, with a total value of $658,414.42.
  • On Monday, October 12th, Saba Capital Management, L.P. purchased 14,600 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.03 per share, with a total value of $175,638.00.
  • On Thursday, October 8th, Saba Capital Management, L.P. purchased 27,937 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.95 per share, with a total value 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 purchased at an average cost of $11.97 per share, for a total transaction 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. acquired 5,000 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.25 per share, for a total transaction of $61,250.00.
  • On Friday, August 28th, Saba Capital Management, L.P. acquired 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.47 per share, for a total transaction of $14,964.00.
  • On Thursday, August 27th, Saba Capital Management, L.P. bought 3,900 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.49 per share, with a total value of $48,711.00.
  • On Friday, August 21st, Saba Capital Management, L.P. bought 5,742 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.53 per share, with a total value of $71,947.26.
  • On Thursday, August 20th, Saba Capital Management, L.P. bought 1,547 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.52 per share, with a total value of $19,368.44.

Ellsworth Growth and Income Fund Price Performance

NYSEAMERICAN ECF traded down $0.20 on Monday, hitting $11.45. The stock had a trading volume of 33,169 shares, compared to its average volume of 33,099. The company’s 50-day moving average is $12.28 and its two-hundred day moving average is $12.50. Ellsworth Growth and Income Fund Ltd. has a one year low of $10.70 and a one year high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th were issued a $0.22 dividend. This is a positive change from Ellsworth Growth and Income Fund’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $0.88 dividend on an annualized basis and a yield of 7.7%.

Institutional Trading of Ellsworth Growth and Income Fund

Several large investors have recently added to or reduced their stakes in ECF. Capstone Investment Advisors LLC acquired a new position in shares of Ellsworth Growth and Income Fund during the second quarter valued at $1,076,000. Uhlmann Price Securities LLC raised its stake in shares of Ellsworth Growth and Income Fund by 1.5% during the first quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company’s stock valued at $766,000 after purchasing an additional 1,000 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in Ellsworth Growth and Income Fund in the second quarter worth about $875,000. Royal Bank of Canada lifted 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 worth $617,000 after purchasing an additional 7,955 shares during the period. Finally, Waverly Advisors LLC lifted its holdings in Ellsworth Growth and Income Fund by 3.2% in the first quarter. Waverly Advisors LLC now owns 42,499 shares of the investment management company’s stock worth $474,000 after purchasing an additional 1,300 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.

Ellsworth Growth and Income Fund Company Profile

(Get Free Report)

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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