Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.87 and traded as low as $11.21. Ellsworth Growth and Income Fund shares last traded at $11.29, with a volume of 24,184 shares.

Ellsworth Growth and Income Fund Trading Down 1.1%

The business’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $11.87.

Ellsworth Growth and Income Fund Cuts Dividend

The company 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. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $0.76 dividend on an annualized basis and a yield of 6.7%.

Insiders Place Their Bets

In other news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of the stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $12.16, for a total value of $177,426.56. Following the transaction, the insider directly owned 1,604,273 shares of the company’s stock, valued at approximately $19,507,959.68. This represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 76,347 shares of company stock worth $923,828. 0.54% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

A number of institutional investors and hedge funds have recently modified their holdings of ECF. Advisors Asset Management Inc. increased its holdings in Ellsworth Growth and Income Fund by 33.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 227,875 shares of the investment management company’s stock worth $2,643,000 after buying an additional 57,520 shares during the period. Uhlmann Price Securities LLC raised its position in Ellsworth Growth and Income Fund by 1.7% during the 3rd quarter. Uhlmann Price Securities LLC now owns 67,837 shares of the investment management company’s stock worth $787,000 after buying an additional 1,157 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in Ellsworth Growth and Income Fund by 15.4% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 185,809 shares of the investment management company’s stock valued at $2,155,000 after acquiring an additional 24,777 shares during the period. Guggenheim Capital LLC lifted its stake in Ellsworth Growth and Income Fund by 5.0% during the 2nd quarter. Guggenheim Capital LLC now owns 148,511 shares of the investment management company’s stock valued at $1,522,000 after acquiring an additional 7,089 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in shares of Ellsworth Growth and Income Fund by 44.8% in the 2nd quarter. NewEdge Advisors LLC now owns 75,407 shares of the investment management company’s stock valued at $773,000 after acquiring an additional 23,340 shares during the last quarter. Institutional investors and hedge funds own 35.88% of the company’s stock.

Ellsworth Growth and Income Fund Company Profile

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.