Key Points
- Saba Capital Management, L.P. sold 7,532 shares of Ellsworth Growth and Income Fund on Feb. 13 at an average price of $12.25 for $92,267, leaving it with 1,624,936 shares (a 0.46% decline in its position).
- Saba has been trimming its stake through multiple early-February sales — a total of 55,684 shares sold across Feb. 5, 6, 11 and 13 for roughly $672,323 combined — signaling continued reductions in exposure.
- Ellsworth declared a quarterly dividend of $0.19 per share (annualized $0.76), a yield of about 6.3%, payable Mar. 24 to holders of record on Mar. 17 (ex-dividend Mar. 17).
Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Get Free Report) major shareholder Saba Capital Management, L.P. sold 7,532 shares of Ellsworth Growth and Income Fund stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $12.25, for a total value of $92,267.00. Following the sale, the insider owned 1,624,936 shares in the company, valued at $19,905,466. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more 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 Wednesday, February 11th, Saba Capital Management, L.P. sold 14,110 shares of Ellsworth Growth and Income Fund stock. The shares were sold at an average price of $12.24, for a total value of $172,706.40.
- On Friday, February 6th, Saba Capital Management, L.P. sold 26,218 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $11.95, for a total value of $313,305.10.
- On Thursday, February 5th, Saba Capital Management, L.P. sold 7,824 shares of Ellsworth Growth and Income Fund stock. The stock was sold at an average price of $12.02, for a total value of $94,044.48.
Ellsworth Growth and Income Fund Price Performance
ECF stock opened at $12.16 on Wednesday. The business has a 50 day simple moving average of $12.07 and a 200-day simple moving average of $11.75. Ellsworth Growth and Income Fund Ltd. has a twelve month low of $8.15 and a twelve month high of $12.65.
Ellsworth Growth and Income Fund Cuts Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a dividend of $0.19 per share. The ex-dividend date is Tuesday, March 17th. This represents a $0.76 dividend on an annualized basis and a yield of 6.3%.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Gilpin Wealth Management LLC purchased a new stake in shares of Ellsworth Growth and Income Fund in the fourth quarter valued at about $47,000. Osaic Holdings Inc. increased its position in Ellsworth Growth and Income Fund by 11.1% in the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the company's stock valued at $157,000 after acquiring an additional 1,535 shares during the period. PMG Family Office LLC purchased a new stake in Ellsworth Growth and Income Fund during the 3rd quarter valued at approximately $212,000. LPL Financial LLC lifted its position in Ellsworth Growth and Income Fund by 27.7% during the 4th quarter. LPL Financial LLC now owns 23,308 shares of the company's stock worth $271,000 after acquiring an additional 5,051 shares during the period. Finally, K2 Principal Fund L.P. lifted its position in Ellsworth Growth and Income Fund by 3.5% during the 4th quarter. K2 Principal Fund L.P. now owns 24,619 shares of the company's stock worth $286,000 after acquiring an additional 834 shares during the period. 35.88% of the stock is currently owned by institutional investors and hedge funds.
About Ellsworth Growth and Income Fund
(
Get Free Report)
Ellsworth Growth and Income Fund, Inc (NYSE: ECF) is a closed-end management investment company whose primary objective is to provide shareholders with total return through a combination of capital appreciation and current income. The Fund pursues this objective by investing principally in common stocks of U.S. companies that the investment adviser believes are undervalued relative to their growth prospects and exhibited attractive dividend yields. To complement its equity holdings, the Fund may also allocate assets to convertible securities, preferred stocks and high-quality fixed-income instruments.
The Fund employs a bottom-up, stock-picking approach, seeking issuers across a broad range of sectors that offer favorable risk-reward dynamics.
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