Form 4: Ellsworth Growth & Income Fund Insider Buys Shares

James Dinsmore, President and Director of Ellsworth Growth & Income Fund, purchased 200 common shares at $11.60, increasing his direct beneficial ownership.

Summary

• James Andrew Dinsmore, who serves as President, Director, and a 10% Owner of ELLSWORTH GROWTH & INCOME FUND LTD (ECF), acquired additional common shares.
• The transaction took place on December 17, 2025.
• Mr. Dinsmore purchased 200 common shares at a price of $11.60 per share.
• Following this acquisition, Mr. Dinsmore's direct beneficial ownership in the company totals 12,292 common shares.

Sentiment

Score: 7

Explanation: The purchase of shares by a key insider (President, Director, and 10% owner) is generally a positive signal, indicating confidence in the company's prospects. The transaction size is modest but still reflects a positive sentiment from management.

Positives

• A key insider, James Andrew Dinsmore (President, Director, and 10% Owner), purchased shares, signaling confidence in the company's future prospects.
• The purchase increases Mr. Dinsmore's direct beneficial ownership to 12,292 common shares, aligning his interests further with shareholders.

Future Outlook

NA

Industry Context

Insider buying, particularly by a high-ranking officer and director, is often interpreted by the market as a positive signal, indicating management's belief in the company's undervaluation or strong future performance. This transaction aligns with typical insider activity patterns seen across the investment fund industry, where such purchases can reflect confidence in the fund's strategy or underlying assets.

Comparison to Industry Standards

• Insider purchases, especially by top executives and significant shareholders like Mr. Dinsmore, are generally viewed favorably across the financial industry.
• While the size of this specific transaction (200 shares) is relatively modest compared to large institutional trades, it reflects a personal commitment and belief in the company's value.
• Similar insider buying patterns at other closed-end funds or investment companies often precede periods of stable or improving performance, though this is not a guarantee of future results.

Related Party Transactions

• James Andrew Dinsmore, who holds roles as President, Director, and a 10% Owner of ELLSWORTH GROWTH & INCOME FUND LTD, purchased 200 common shares of the issuer at $11.60 per share.

Stakeholder Impact

• Shareholders may view this insider purchase as a positive indicator of management's confidence in the company's future performance and intrinsic value.
• The transaction could potentially influence investor sentiment and perception of the company's stock, suggesting internal belief in its prospects.

Key Dates

Recommendation

The insider purchase by a high-ranking officer and director is a positive signal, indicating management's confidence in the company's valuation and future. However, the transaction size is relatively small, and a single insider purchase, while positive, typically warrants a 'hold' rather than a 'buy' recommendation without further supporting fundamental analysis or larger-scale insider activity.

Keywords

ECF, Ellsworth Growth & Income Fund, Insider Purchase, Form 4, James Dinsmore, Beneficial Ownership, Stock Acquisition, Closed-End Fund