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 stock purchases.

Summary

• Saba Capital Management, L.P. has increased its holdings in Ellsworth Growth & Income Fund Ltd (ECF).
• On April 29, 2025, Saba Capital acquired 4,738 shares of common stock at a price of $9.04 per share.
• On April 30, 2025, Saba Capital acquired 22,447 shares of common stock at a price of $9.01 per share.
• Following these transactions, Saba Capital's beneficial ownership in ECF stands at 1,598,038 shares.
• Boaz Weinstein is also listed as a reporting person with a director and 10% ownership relationship to the issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of stock purchases, indicating increased ownership, but doesn't inherently suggest positive or negative implications for the company's performance.

Positives

• Increased investment by Saba Capital could be seen as a positive signal for the market's confidence in Ellsworth Growth & Income Fund Ltd (ECF).

Industry Context

Hedge fund activity in closed-end funds is common, as they often seek to capitalize on discounts to net asset value or influence fund strategy.

Stakeholder Impact

• Shareholders may view the increased stake by Saba Capital as a sign of confidence in the fund's future performance.

Key Dates

Keywords

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