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

Saba Capital Management, along with Boaz Weinstein, reports increased beneficial ownership of Ellsworth Growth & Income Fund shares through recent purchases.

Summary

• Saba Capital Management, L.P. has reported changes in its beneficial ownership of Ellsworth Growth & Income Fund Ltd (ECF).
• On April 1, 2025, Saba Capital acquired 34,285 shares of common stock at a price of $9.05 per share.
• On April 2, 2025, Saba Capital acquired an additional 7,041 shares of common stock at $9.05 per share.
• Following these transactions, Saba Capital's total indirect beneficial ownership amounts to 1,445,313 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 to slightly positive. Increased ownership by a significant investor like Saba Capital can be viewed favorably, but the filing itself is a routine disclosure.

Positives

• Increased investment by Saba Capital Management may signal confidence in the future performance of Ellsworth Growth & Income Fund.

Industry Context

Hedge funds like Saba Capital Management often take activist positions in closed-end funds like Ellsworth Growth & Income Fund, seeking to unlock value through various strategies.

Stakeholder Impact

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

Key Dates

Keywords

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