Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) major shareholder Saba Capital Management, L.P. acquired 5,000 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were purchased at an average cost of $12.25 per share, with a total value of $61,250.00. Following the transaction, the insider directly owned 1,621,662 shares of the company's stock, valued at $19,865,359.50. This trade represents a 0.31% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major 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 Friday, September 4th, Saba Capital Management, L.P. acquired 6,800 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.36 per share, for a total transaction of $84,048.00.
- On Friday, August 28th, Saba Capital Management, L.P. bought 1,200 shares of Ellsworth Growth and Income Fund stock. The stock was purchased at an average price of $12.47 per share, with a total value 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 stock was purchased at an average price of $12.49 per share, with a total value of $48,711.00.
- On Friday, August 21st, Saba Capital Management, L.P. purchased 5,742 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average cost of $12.53 per share, with a total value of $71,947.26.
- On Thursday, August 20th, Saba Capital Management, L.P. purchased 1,547 shares of Ellsworth Growth and Income Fund stock. The shares were purchased at an average price of $12.52 per share, for a total transaction of $19,368.44.
Ellsworth Growth and Income Fund Price Performance
Shares of NYSEAMERICAN:ECF opened at $12.47 on Wednesday. The company's 50 day simple moving average is $12.55 and its 200 day simple moving average is $12.39. Ellsworth Growth and Income Fund Ltd. has a 1 year low of $10.70 and a 1 year high of $13.85.
Ellsworth Growth and Income Fund Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 7.1%. The ex-dividend date is Wednesday, September 16th. 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
Several institutional investors and hedge funds have recently modified their holdings of ECF. Global Retirement Partners LLC bought a new position in Ellsworth Growth and Income Fund in the second quarter valued at about $28,000. Gilpin Wealth Management LLC acquired a new stake in shares of Ellsworth Growth and Income Fund in the 4th quarter valued at approximately $47,000. Readystate Asset Management LP bought a new stake in shares of Ellsworth Growth and Income Fund during the 2nd quarter valued at approximately $154,000. Osaic Holdings Inc. increased its position in Ellsworth Growth and Income Fund by 11.1% during the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company's stock worth $157,000 after purchasing an additional 1,535 shares in the last quarter. Finally, Beckerman Institutional LLC acquired a new position in Ellsworth Growth and Income Fund during the 2nd quarter worth approximately $169,000. 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 (NYSEAMERICAN: ECF) is a closed-end management investment company that seeks to provide investors with a combination of capital appreciation and current income. The fund pursues its objectives by investing primarily in a diversified portfolio of common stocks of U.S. companies that pay dividends and exhibit long-term growth potential. To complement its equity holdings, the fund may also invest in preferred stocks, convertible securities and other income-oriented instruments.
ECF's investment strategy emphasizes a disciplined, research-driven approach.
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