Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Major Shareholder Buys $190,442.55 in Stock

by · The Markets Daily

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF – Get Free Report) major shareholder Saba Capital Management, L.P. purchased 16,347 shares of the company’s stock in a transaction dated Friday, October 16th. The stock was purchased at an average price of $11.65 per share, with a total value of $190,442.55. Following the completion of the purchase, the insider directly owned 1,770,946 shares in the company, valued at $20,631,520.90. The trade was a 0.93% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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 Monday, October 19th, Saba Capital Management, L.P. acquired 17,079 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $11.47 per share, for a total transaction of $195,896.13.
  • On Thursday, October 15th, Saba Capital Management, L.P. purchased 9,969 shares of Ellsworth Growth and Income Fund stock. The shares were acquired at an average cost 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 acquired at an average price of $11.74 per share, for a total transaction 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 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 stock was acquired at an average cost 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 acquired 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 bought at an average price of $12.36 per share, with a total value of $84,048.00.
  • On Thursday, September 3rd, Saba Capital Management, L.P. bought 5,000 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost of $12.25 per share, with a total value of $61,250.00.
  • On Friday, August 28th, Saba Capital Management, L.P. bought 1,200 shares of Ellsworth Growth and Income Fund stock. The shares were bought at an average cost 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 bought at an average cost of $12.49 per share, for a total transaction of $48,711.00.

Ellsworth Growth and Income Fund Trading Down 0.0%

Shares of NYSEAMERICAN ECF traded down $0.01 during trading on Tuesday, reaching $11.45. The company had a trading volume of 25,436 shares, compared to its average volume of 33,059. The company’s fifty day moving average price is $12.25 and its 200-day moving average price is $12.51. Ellsworth Growth and Income Fund Ltd. has a 12 month low of $10.70 and a 12 month high of $13.85.

Ellsworth Growth and Income Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were given a dividend of $0.22 per share. 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. The ex-dividend date was Wednesday, September 16th.

Institutional Trading of Ellsworth Growth and Income Fund

Several institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $28,000. Readystate Asset Management LP acquired a new position in Ellsworth Growth and Income Fund in the second quarter valued at $154,000. Beckerman Institutional LLC acquired a new position in Ellsworth Growth and Income Fund in the second quarter valued at $169,000. Ruggaard & Associates LLC acquired a new position in Ellsworth Growth and Income Fund in the second quarter valued at $248,000. Finally, K2 Principal Fund L.P. bought a new stake in Ellsworth Growth and Income Fund during the second quarter valued at $325,000. 35.88% of the stock is currently owned by institutional investors.

About Ellsworth Growth and Income Fund

(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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