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

Saba Capital Management, L.P. reports an increase in its beneficial ownership of Ellsworth Growth & Income Fund Ltd. common stock following a recent transaction.

Summary

• On April 28, 2025, Saba Capital Management, L.P. acquired 600 shares of Ellsworth Growth & Income Fund Ltd. (ECF) common stock at a price of $8.97 per share.
• Following this transaction, Saba Capital Management, L.P. beneficially owns 1,570,853 shares of ECF through indirect ownership.
• Boaz Weinstein, also associated with Saba Capital Management, L.P., is listed as a reporting person.
• The filing indicates that Saba Capital Management, L.P. is a 10% owner and Boaz Weinstein is a director of Ellsworth Growth & Income Fund Ltd.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a change in ownership. It doesn't inherently convey positive or negative sentiment, but the increased stake could be interpreted as a mildly positive signal.

Positives

• Increased investment by a significant shareholder like Saba Capital Management, L.P. could be viewed positively by the market.

Industry Context

Hedge funds like Saba Capital Management frequently adjust their positions in publicly traded companies, especially closed-end funds like Ellsworth Growth & Income Fund, to capitalize on market inefficiencies or to influence corporate actions.

Stakeholder Impact

• The increased stake by Saba Capital Management, L.P. could potentially influence the fund's strategy and direction, impacting shareholders.

Key Dates

Keywords

Saba Capital Management, Ellsworth Growth & Income Fund, ECF, Beneficial Ownership, Form 4, Investment, Shares, Stock