Waverly Advisors LLC Purchases Shares of 44,338 Ellsworth Growth and Income Fund Ltd. (NYSE:ECF)

Waverly Advisors LLC acquired a new position in shares of Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 44,338 shares of the company's stock, valued at approximately $430,000. Waverly Advisors LLC owned 0.32% of Ellsworth Growth and Income Fund at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ECF. Raymond James Financial Inc. purchased a new position in Ellsworth Growth and Income Fund during the fourth quarter worth about $881,000. Advisors Asset Management Inc. boosted its position in shares of Ellsworth Growth and Income Fund by 61.4% during the 4th quarter. Advisors Asset Management Inc. now owns 368,889 shares of the company's stock worth $3,575,000 after purchasing an additional 140,392 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in Ellsworth Growth and Income Fund by 161.5% in the fourth quarter. Sit Investment Associates Inc. now owns 318,285 shares of the company's stock valued at $3,084,000 after buying an additional 196,567 shares in the last quarter. Sanctuary Advisors LLC lifted its position in shares of Ellsworth Growth and Income Fund by 7.3% during the 4th quarter. Sanctuary Advisors LLC now owns 69,370 shares of the company's stock valued at $698,000 after acquiring an additional 4,715 shares during the period. Finally, Capstone Investment Advisors LLC boosted its stake in shares of Ellsworth Growth and Income Fund by 179.8% during the 4th quarter. Capstone Investment Advisors LLC now owns 79,774 shares of the company's stock worth $773,000 after acquiring an additional 51,262 shares in the last quarter. Institutional investors and hedge funds own 35.88% of the company's stock.

Insider Buying and Selling at Ellsworth Growth and Income Fund

In related news, major shareholder Saba Capital Management, L.P. acquired 9,751 shares of the company's stock in a transaction that occurred on Monday, May 5th. The stock was purchased at an average price of $9.23 per share, for a total transaction of $90,001.73. Following the transaction, the insider now owns 1,608,789 shares in the company, valued at $14,849,122.47. This trade represents a 0.61% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders acquired 130,156 shares of company stock worth $1,158,469. 0.55% of the stock is owned by corporate insiders.

Ellsworth Growth and Income Fund Stock Performance

ECF stock traded down $0.04 during midday trading on Wednesday, hitting $9.78. 28,977 shares of the stock were exchanged, compared to its average volume of 41,952. The stock's 50-day moving average price is $9.13 and its 200-day moving average price is $9.54. Ellsworth Growth and Income Fund Ltd. has a fifty-two week low of $8.01 and a fifty-two week high of $10.14.

Ellsworth Growth and Income Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Investors of record on Friday, June 13th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 6.54%. This is a boost from Ellsworth Growth and Income Fund's previous quarterly dividend of $0.13. The ex-dividend date is Friday, June 13th.

About Ellsworth Growth and Income Fund

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.