Ellsworth Growth and Income Fund (NYSEAMERICAN:ECF) Stock Passes Above 50-Day Moving Average - Here's Why

Key Points

• ECF crossed above its fifty‑day moving average, trading as high as $12.84; the 50‑day SMA is $11.69 versus the 200‑day SMA of $11.90.
• The fund paid a quarterly dividend of $0.19 per share (annualized $0.76), implying a 5.9% yield; the ex‑dividend date was March 17 and the dividend was paid March 24.
• Saba Capital sold 14,591 shares on Feb. 18 at an average $12.16, and insiders have sold 76,347 shares in the last 90 days; insiders own about 0.46% while institutions own roughly 35.88% of the stock.

Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Get Free Report) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.69 and traded as high as $12.84. Ellsworth Growth and Income Fund shares last traded at $12.83, with a volume of 29,945 shares.

Ellsworth Growth and Income Fund Stock Performance

The company has a fifty day simple moving average of $11.69 and a 200-day simple moving average of $11.90.

Ellsworth Growth and Income Fund Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 5.9%. The ex-dividend date was Tuesday, March 17th.

Insider Transactions at Ellsworth Growth and Income Fund

In other Ellsworth Growth and Income Fund news, major shareholder Saba Capital Management, L.P. sold 14,591 shares of the business's 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 sale, the insider owned 1,604,273 shares in the company, valued at approximately $19,507,959.68. The trade was a 0.90% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 76,347 shares of company stock worth $923,828. 0.46% of the stock is currently owned by insiders.

Institutional Trading of Ellsworth Growth and Income Fund

Several institutional investors and hedge funds have recently bought and sold shares of ECF. K2 Principal Fund L.P. increased its holdings in shares of Ellsworth Growth and Income Fund by 3.5% in the 4th quarter. K2 Principal Fund L.P. now owns 24,619 shares of the investment management company's stock valued at $286,000 after purchasing an additional 834 shares during the period. Raymond James Financial Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 1.3% in the 3rd quarter. Raymond James Financial Inc. now owns 80,538 shares of the investment management company's stock valued at $934,000 after purchasing an additional 996 shares during the period. Uhlmann Price Securities LLC increased its holdings in shares of Ellsworth Growth and Income Fund by 1.5% in the 1st quarter. Uhlmann Price Securities LLC now owns 68,718 shares of the investment management company's stock valued at $766,000 after purchasing an additional 1,000 shares during the period. Baird Financial Group Inc. increased its holdings 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 investment management company's stock valued at $1,488,000 after purchasing an additional 1,475 shares during the period. Finally, Osaic Holdings Inc. increased its holdings in shares of Ellsworth Growth and Income Fund by 11.1% in the 2nd quarter. Osaic Holdings Inc. now owns 15,356 shares of the investment management company's stock valued at $157,000 after purchasing an additional 1,535 shares during the period. 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.

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