Wealth Enhancement Advisory Services LLC Sells 83,615 Shares of Ellsworth Growth and Income Fund Ltd. $ECF

Key Points

• Wealth Enhancement Advisory Services LLC reduced its holdings in Ellsworth Growth and Income Fund by 38.5%, selling 83,615 shares and retaining 133,506 shares worth approximately $1.37 million.
• Other institutional investors, including Sit Investment Associates Inc. and Invesco Ltd., increased their stakes by significant percentages, with Sit Investment Associates increasing by 49.4%.
• Ellsworth Growth and Income Fund announced a quarterly dividend of $0.16 per share, representing a 5.5% yield based on its annualized dividend amount of $0.64.

Wealth Enhancement Advisory Services LLC trimmed its position in Ellsworth Growth and Income Fund Ltd. (NYSE:ECF - Free Report) by 38.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 133,506 shares of the company's stock after selling 83,615 shares during the period. Wealth Enhancement Advisory Services LLC owned approximately 0.98% of Ellsworth Growth and Income Fund worth $1,374,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sit Investment Associates Inc. lifted its holdings in shares of Ellsworth Growth and Income Fund by 49.4% in the first quarter. Sit Investment Associates Inc. now owns 475,568 shares of the company's stock valued at $4,318,000 after purchasing an additional 157,283 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Ellsworth Growth and Income Fund by 25.5% in the first quarter. Invesco Ltd. now owns 122,838 shares of the company's stock valued at $1,115,000 after purchasing an additional 24,994 shares in the last quarter. Shaker Financial Services LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 33.1% in the first quarter. Shaker Financial Services LLC now owns 141,706 shares of the company's stock valued at $1,287,000 after purchasing an additional 35,255 shares in the last quarter. Wolverine Asset Management LLC bought a new stake in shares of Ellsworth Growth and Income Fund in the first quarter valued at about $427,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Ellsworth Growth and Income Fund by 9.1% in the first quarter. Blue Bell Private Wealth Management LLC now owns 150,961 shares of the company's stock valued at $1,371,000 after purchasing an additional 12,653 shares in the last quarter. 35.88% of the stock is currently owned by institutional investors.

Insider Transactions at Ellsworth Growth and Income Fund

In related news, major shareholder Saba Capital Management, L.P. bought 8,031 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average price of $10.69 per share, for a total transaction of $85,851.39. Following the completion of the acquisition, the insider owned 1,635,252 shares of the company's stock, valued at approximately $17,480,843.88. The trade was a 0.49% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.55% of the company's stock.

Ellsworth Growth and Income Fund Stock Performance

Shares of Ellsworth Growth and Income Fund stock opened at $11.60 on Wednesday. The stock's 50-day moving average is $11.02 and its 200-day moving average is $10.08. Ellsworth Growth and Income Fund Ltd. has a one year low of $8.15 and a one year high of $11.90.

Ellsworth Growth and Income Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 5.5%. The ex-dividend date was Tuesday, September 16th.

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.

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