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

Saba Capital Management, a 10% owner and director of Ellsworth Growth & Income Fund, reports acquiring additional shares of common stock.

Summary

• On April 8, 2025, Saba Capital Management acquired 11,276 shares of Ellsworth Growth & Income Fund (ECF) common stock at a price of $8.37 per share.
• Following this transaction, Saba Capital Management beneficially owns 1,545,610 shares of ECF.
• The transaction was reported by Saba Capital Management, L.P. and Boaz Weinstein, both listed as directors and 10% owners.

Sentiment

Score: 6

Explanation: Neutral sentiment. The document simply reports a transaction. The increased stake could be interpreted positively, but without further context, it's difficult to assign a strong positive sentiment.

Positives

• Saba Capital Management increasing its stake could be seen as a positive signal, indicating confidence in the fund's future performance.

Risks

• The document does not explicitly mention any risks.

Industry Context

Hedge funds and investment firms frequently adjust their holdings in publicly traded companies, and these changes are reported to the SEC. This filing reflects Saba Capital's ongoing investment strategy with respect to Ellsworth Growth & Income Fund.

Stakeholder Impact

• The increased stake by Saba Capital Management could potentially influence shareholder confidence.

Key Dates

Keywords

Saba Capital Management, Ellsworth Growth & Income Fund, ECF, share acquisition, beneficial ownership, Form 4, Boaz Weinstein