Form 4: Saba Capital Increases Stake in Ellsworth Growth & Income Fund

Saba Capital Management, L.P. reports increased ownership in Ellsworth Growth & Income Fund Ltd (ECF) through recent common stock purchases.

Summary

• Saba Capital Management, L.P. has increased its holdings in Ellsworth Growth & Income Fund Ltd (ECF).
• On April 3, 2025, Saba Capital acquired 33,476 shares of common stock at a price of $8.88 per share.
• Following this transaction, Saba Capital's indirect ownership totaled 1,478,789 shares.
• On April 4, 2025, Saba Capital acquired an additional 55,545 shares at $8.59 per share, bringing their total indirect ownership to 1,534,334 shares.
• Boaz Weinstein is also listed as a reporting person with a similar relationship to the issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock purchases. The increased stake could be seen as a positive, but it's not definitively bullish.

Positives

• Increased investment by a significant shareholder like Saba Capital could be interpreted as a positive signal for the market.

Industry Context

Hedge funds like Saba Capital often take significant positions in closed-end funds like Ellsworth Growth & Income Fund to influence management or capitalize on perceived undervaluation.

Stakeholder Impact

• The increased stake by Saba Capital could influence shareholder sentiment and potentially impact the stock price.

Key Dates

Keywords

Saba Capital Management, Ellsworth Growth & Income Fund, ECF, shareholding, Form 4, beneficial ownership, stock purchase