Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Shares Pass Below 200-Day Moving Average – Time to Sell?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF)’s stock price passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $11.88 and traded as low as $10.81. Ellsworth Growth and Income Fund shares last traded at $10.82, with a volume of 34,968 shares traded.

Ellsworth Growth and Income Fund Stock Down 2.1%

The company has a fifty day moving average of $11.88 and a 200-day moving average of $11.88.

Ellsworth Growth and Income Fund Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 7.0%. The ex-dividend date of this dividend was Tuesday, March 17th.

Insider Buying and Selling

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. sold 26,218 shares of the firm’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $11.95, for a total value of $313,305.10. Following the completion of the transaction, the insider owned 1,646,578 shares of the company’s stock, valued at $19,676,607.10. This trade represents a 1.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders have sold 76,347 shares of company stock valued at $923,828. Company insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On Ellsworth Growth and Income Fund

Hedge funds have recently bought and sold shares of the stock. Advisors Asset Management Inc. raised its stake in Ellsworth Growth and Income Fund by 72.9% in the fourth quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock valued at $4,581,000 after buying an additional 166,043 shares in the last quarter. Pathstone Holdings LLC boosted its holdings in Ellsworth Growth and Income Fund by 42.0% in the third quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after purchasing an additional 115,441 shares in the last quarter. Evolve Private Wealth LLC purchased a new position in Ellsworth Growth and Income Fund in the fourth quarter valued at approximately $811,000. Saba Capital Management L.P. raised its holdings in Ellsworth Growth and Income Fund by 2.8% during the fourth quarter. Saba Capital Management L.P. now owns 1,680,620 shares of the investment management company’s stock worth $19,546,000 after purchasing an additional 45,368 shares in the last quarter. Finally, Sit Investment Associates Inc. raised its holdings in Ellsworth Growth and Income Fund by 4.9% during the fourth quarter. Sit Investment Associates Inc. now owns 932,552 shares of the investment management company’s stock worth $10,846,000 after purchasing an additional 43,839 shares in 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.