Insider Selling: Ellsworth Growth and Income Fund (NYSE:ECF) Major Shareholder Sells $313,305.10 in Stock

Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) major shareholder Saba Capital Management, L.P. sold 26,218 shares of the firm’s stock in a transaction on Friday, February 6th. The shares were sold at an average price of $11.95, for a total transaction of $313,305.10. Following the sale, the insider owned 1,646,578 shares in the company, valued at approximately $19,676,607.10. This trade represents a 1.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

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

• 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 transaction of $94,044.48.

Ellsworth Growth and Income Fund Trading Up 0.6%

ECF opened at $12.25 on Thursday. Ellsworth Growth and Income Fund Ltd. has a 12-month low of $8.15 and a 12-month high of $12.65. The stock has a 50-day moving average price of $12.04 and a 200-day moving average price of $11.70.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be given a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date is Tuesday, March 17th.

Hedge Funds Weigh In On Ellsworth Growth and Income Fund

Institutional investors and hedge funds have recently made changes to their positions in the business. Uhlmann Price Securities LLC raised its position in Ellsworth Growth and Income Fund by 10.3% in the 2nd quarter. Uhlmann Price Securities LLC now owns 66,680 shares of the company’s stock worth $683,000 after purchasing an additional 6,202 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Ellsworth Growth and Income Fund by 190.0% during the second quarter. Wolverine Asset Management LLC now owns 136,527 shares of the company’s stock valued at $1,399,000 after buying an additional 89,456 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Ellsworth Growth and Income Fund by 31.2% in the second quarter. Invesco Ltd. now owns 161,109 shares of the company’s stock worth $1,651,000 after buying an additional 38,271 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Ellsworth Growth and Income Fund by 5.0% in the second quarter. Guggenheim Capital LLC now owns 148,511 shares of the company’s stock worth $1,522,000 after buying an additional 7,089 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in shares of Ellsworth Growth and Income Fund by 1.0% in the 2nd quarter. Baird Financial Group Inc. now owns 145,155 shares of the company’s stock valued at $1,488,000 after acquiring an additional 1,475 shares during the last quarter. Institutional investors own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.