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

Saba Capital Management, L.P., a 10% owner, reported the purchase of 33,764 shares of Ellsworth Growth & Income Fund Ltd. common stock at $12.15 per share.

Summary

• Saba Capital Management, L.P. acquired 33,764 shares of Ellsworth Growth & Income Fund Ltd. (ECF) common stock.
• The transaction occurred on November 7, 2025, at a price of $12.15 per share.
• Following this purchase, Saba Capital Management, L.P. indirectly beneficially owns 1,680,620 shares of ECF.
• Saba Capital Management, L.P. is identified as a 10% owner of ECF.

Sentiment

Score: 7

Explanation: The purchase of additional shares by a 10% owner generally signals confidence in the company's prospects, which is a positive indicator for investors.

Positives

• A significant shareholder, Saba Capital Management, L.P., increased its stake in Ellsworth Growth & Income Fund Ltd., indicating confidence in the company's future.
• The purchase of 33,764 shares at $12.15 per share represents a direct investment by a major owner.

Future Outlook

This filing does not contain forward-looking statements or guidance.

Industry Context

This Form 4 filing reports an insider transaction and does not provide broader industry trend analysis.

Related Party Transactions

• Saba Capital Management, L.P., a 10% owner of Ellsworth Growth & Income Fund Ltd., purchased 33,764 shares of common stock. This transaction is considered a related party transaction due to Saba Capital's significant ownership stake.

Stakeholder Impact

• Shareholders: May view the increased stake by a major owner as a sign of confidence, potentially leading to increased investor interest or a positive sentiment towards the stock.

Key Dates

Recommendation

The purchase of additional shares by a 10% owner, Saba Capital Management, L.P., suggests strong conviction in the value and future performance of Ellsworth Growth & Income Fund Ltd. Insider buying, especially from a significant institutional investor, is often interpreted as a bullish signal, indicating that the stock may be undervalued or poised for growth. This action by a sophisticated investor warrants a 'buy' recommendation for investors looking for potential upside.

Keywords

Ellsworth Growth & Income Fund, ECF, Saba Capital Management, Insider Buying, Form 4, Beneficial Ownership, Closed-End Fund, Investment Fund