Advisors Asset Management Inc. Lowers Holdings in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)

Advisors Asset Management Inc. lowered its holdings in shares of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,497 shares of the company’s stock after selling 19,937 shares during the quarter. Advisors Asset Management Inc. owned approximately 1.66% of Ellsworth Growth and Income Fund worth $2,054,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cornerstone Advisors LLC lifted its stake in Ellsworth Growth and Income Fund by 2.9% in the 2nd quarter. Cornerstone Advisors LLC now owns 346,675 shares of the company’s stock worth $2,857,000 after purchasing an additional 9,652 shares in the last quarter. Vima LLC lifted its position in shares of Ellsworth Growth and Income Fund by 20.6% in the second quarter. Vima LLC now owns 115,545 shares of the company’s stock worth $952,000 after buying an additional 19,754 shares in the last quarter. Shaker Financial Services LLC boosted its stake in Ellsworth Growth and Income Fund by 14.2% during the second quarter. Shaker Financial Services LLC now owns 111,018 shares of the company’s stock valued at $915,000 after buying an additional 13,780 shares during the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in Ellsworth Growth and Income Fund by 39.7% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 65,050 shares of the company’s stock valued at $536,000 after buying an additional 18,490 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Ellsworth Growth and Income Fund in the 2nd quarter worth approximately $122,000. Institutional investors own 35.88% of the company’s stock.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. acquired 3,302 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were acquired at an average cost of $8.93 per share, for a total transaction of $29,486.86. Following the completion of the transaction, the insider now directly owns 1,403,987 shares in the company, valued at approximately $12,537,603.91. This trade represents a 0.24 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Ellsworth Growth and Income Fund Trading Down 0.8 %

NYSE ECF opened at $9.72 on Monday. The stock has a 50 day moving average price of $9.24 and a 200-day moving average price of $8.67. Ellsworth Growth and Income Fund Ltd. has a one year low of $7.54 and a one year high of $9.86.

Ellsworth Growth and Income Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 22nd will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 22nd. This represents a $0.56 annualized dividend and a yield of 5.76%.

Ellsworth Growth and Income Fund Profile

Ellsworth Growth and Income Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc The fund is managed by Gabelli Funds, LLC. It invests in the public equity markets. The fund primarily invests in convertible securities. It invests in stocks of companies across market capitalizations.