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 following a recent transaction.

Summary

• On April 15, 2025, Saba Capital Management acquired 7,178 shares of Ellsworth Growth & Income Fund at a price of $8.75 per share.
• Following this transaction, Saba Capital Management's indirect beneficial ownership in the fund increased to 1,566,853 shares.
• The report indicates that Saba Capital Management, L.P. and Boaz Weinstein are both directors and 10% owners of the Issuer.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a transaction. The increase in stake could be interpreted slightly positively, but it's not a major event.

Positives

• Increased investment by a significant shareholder like Saba Capital Management could be seen as a positive signal.

Industry Context

Hedge funds like Saba Capital Management frequently adjust their positions in publicly traded companies, and these changes are reported via Form 4 filings. This activity is typical in the investment management industry.

Stakeholder Impact

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

Key Dates

Keywords

Ellsworth Growth & Income Fund, Saba Capital Management, Beneficial Ownership, Form 4, Investment, Shares