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

Saba Capital Management, along with Boaz Weinstein, reports an increase in their beneficial ownership of Ellsworth Growth & Income Fund shares through a recent transaction.

Summary

• On April 14, 2025, Saba Capital Management acquired 14,065 shares of Ellsworth Growth & Income Fund at a price of $8.64 per share.
• Following this transaction, Saba Capital Management's indirect beneficial ownership amounts to 1,559,675 shares.
• Boaz Weinstein is also listed as a reporting person, indicating his involvement with Saba Capital Management's investment activities.
• The filing indicates that Saba Capital Management is a 10% owner and Boaz Weinstein is a director of Ellsworth Growth & Income Fund.

Sentiment

Score: 6

Explanation: The document indicates increased investment, which is generally positive, but it's a routine filing and doesn't provide enough information for a strong sentiment assessment.

Positives

• Increased investment by Saba Capital Management could be seen as a positive signal for Ellsworth Growth & Income Fund.
• The purchase at $8.64 per share suggests confidence in the fund's value.

Industry Context

Hedge funds like Saba Capital Management often take significant positions in closed-end funds like Ellsworth Growth & Income Fund to influence corporate actions or capitalize on perceived undervaluation.

Stakeholder Impact

• The increased stake by Saba Capital Management could potentially influence the fund's strategy and direction, impacting shareholders.
• The investment may provide some reassurance to shareholders regarding the fund's prospects.

Key Dates

Keywords

Saba Capital Management, Ellsworth Growth & Income Fund, Beneficial Ownership, Investment, Shares, ECF