Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Shares Cross Below Two Hundred Day Moving Average – What’s Next?

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.86 and traded as low as $11.40. Ellsworth Growth and Income Fund shares last traded at $11.50, with a volume of 61,402 shares traded.

Ellsworth Growth and Income Fund Stock Performance

The stock has a 50-day simple moving average of $11.68 and a 200 day simple moving average of $11.86.

Ellsworth Growth and Income Fund Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $0.76 dividend on an annualized basis and a yield of 6.6%.

Insider Buying and Selling

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of Ellsworth Growth and Income Fund stock in a transaction dated Wednesday, February 18th. The stock was sold at an average price of $12.16, for a total transaction of $177,426.56. Following the completion of the sale, the insider owned 1,604,273 shares of the company’s stock, valued at approximately $19,507,959.68. The trade was a 0.90% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 76,347 shares of company stock worth $923,828. Insiders own 0.54% of the company’s stock.

Institutional Trading of Ellsworth Growth and Income Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECF. Advisors Asset Management Inc. lifted its position in Ellsworth Growth and Income Fund by 72.9% during the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company’s stock worth $4,581,000 after acquiring an additional 166,043 shares during the period. Pathstone Holdings LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 42.0% in the 3rd quarter. Pathstone Holdings LLC now owns 390,077 shares of the investment management company’s stock valued at $4,525,000 after buying an additional 115,441 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Ellsworth Growth and Income Fund in the 4th quarter valued at about $811,000. Saba Capital Management L.P. boosted its stake in shares of Ellsworth Growth and Income Fund by 2.8% in 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 buying an additional 45,368 shares during the last quarter. Finally, Sit Investment Associates Inc. grew 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 acquiring an additional 43,839 shares during the period. Institutional investors and hedge funds own 35.88% of the company’s stock.

About Ellsworth Growth and Income Fund

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.