Form 4: Saba Capital Management Increases Stake in Ellsworth Growth & Income Fund
SEC Form 4 Filing
Saba Capital Management, a 10% owner and director in Ellsworth Growth & Income Fund, reports purchasing additional shares.
Summary
- On September 27, 2024, Saba Capital Management, L.P. acquired 3,302 shares of Ellsworth Growth & Income Fund Ltd (ECF) at a price of $8.93 per share.
- Following this transaction, Saba Capital Management's indirect beneficial ownership in ECF amounts to 1,403,987 shares.
- Boaz Weinstein, also listed as a reporting person, is associated with Saba Capital Management.
Sentiment
Score: 5
Explanation: Neutral sentiment as it's a standard disclosure of share purchase. The increased stake could be seen as mildly positive, but without further context, it's difficult to gauge the overall impact.
Positives
- Increased investment by a significant shareholder may signal confidence in the fund's prospects.
Industry Context
Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's stock. This filing indicates changes in ownership and provides transparency to the market.
Stakeholder Impact
- The increased stake by Saba Capital Management could potentially influence investor sentiment towards Ellsworth Growth & Income Fund.
Key Dates
| Date | Description |
|---|---|
| 09/27/2024 | Date of transaction: Saba Capital Management purchased shares of ECF. |
| 09/30/2024 | Date of signature for the Form 4 filing by Zachary Gindes and Boaz Weinstein. |
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