Capstone Investment Advisors LLC Takes Position in Ellsworth Growth and Income Fund Ltd. $ECF

Key Points

• Capstone Investment Advisors acquired 81,490 shares of Ellsworth Growth and Income Fund, valued at approximately $1.08 million and representing about 0.60% of the fund.
• Institutional investors own 35.88% of ECF, with several firms—including Advisors Asset Management and Invesco—also increasing their positions.
• ECF raised its quarterly dividend to $0.22 per share, or $0.88 annually, implying a 7.1% yield based on the reported $12.47 share price.

Capstone Investment Advisors LLC purchased a new stake in shares of Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 81,490 shares of the investment management company's stock, valued at approximately $1,076,000. Capstone Investment Advisors LLC owned approximately 0.60% of Ellsworth Growth and Income Fund as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Sit Investment Associates Inc. raised its holdings in Ellsworth Growth and Income Fund by 4.9% in the 4th 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 last quarter. Evolve Private Wealth LLC bought a new stake in shares of Ellsworth Growth and Income Fund in the 2nd quarter worth $875,000. Wells Fargo & Company MN increased its holdings in shares of Ellsworth Growth and Income Fund by 3.3% in the 4th quarter. Wells Fargo & Company MN now owns 946,404 shares of the investment management company's stock worth $11,007,000 after purchasing an additional 30,142 shares in the last quarter. Advisors Asset Management Inc. increased its holdings in Ellsworth Growth and Income Fund by 72.9% in the 4th quarter. Advisors Asset Management Inc. now owns 393,918 shares of the investment management company's stock worth $4,581,000 after buying an additional 166,043 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Ellsworth Growth and Income Fund by 17.2% in the fourth quarter. Invesco Ltd. now owns 232,215 shares of the investment management company's stock worth $2,701,000 after acquiring an additional 34,026 shares during the period. Institutional investors own 35.88% of the company's stock.

Ellsworth Growth and Income Fund Stock Performance

Shares of ECF opened at $12.47 on Friday. Ellsworth Growth and Income Fund Ltd. has a 1-year low of $10.70 and a 1-year high of $13.85. The firm has a fifty day simple moving average of $12.68 and a two-hundred day simple moving average of $12.39.

Ellsworth Growth and Income Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $0.88 annualized dividend and a yield of 7.1%. This is a positive change from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.19.

Insider Activity at Ellsworth Growth and Income Fund

In other news, major shareholder Saba Capital Management, L.P. bought 5,742 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were bought at an average price of $12.53 per share, for a total transaction of $71,947.26. Following the purchase, the insider owned 1,611,562 shares in the company, valued at $20,192,871.86. This represents a 0.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 0.46% of the stock is owned by insiders.

Ellsworth Growth and Income Fund 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.

Want to see what other hedge funds are holding ECF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ellsworth Growth and Income Fund Ltd. (NYSEAMERICAN:ECF - Free Report).

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