SCHEDULE: Wells Fargo & Company Reports 7.6% Ownership in Ellsworth Growth and Income Fund
Ownership Disclosure
Wells Fargo & Company files Schedule 13G, reporting beneficial ownership of 1,033,115 shares, representing 7.6% of Ellsworth Growth and Income Fund's outstanding securities as of December 31, 2024.
Summary
- Wells Fargo & Company filed a Schedule 13G with the SEC on January 23, 2025, regarding its ownership in Ellsworth Growth and Income, a closed-end fund.
- As of December 31, 2024, Wells Fargo beneficially owns 1,033,115 shares of the fund.
- This represents 7.6% of the outstanding shares of the Closed-End Fund class of securities.
- Wells Fargo has sole dispositive power over these shares but no voting power.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, indicating a neutral sentiment. It simply reports ownership and doesn't convey any positive or negative outlook.
Positives
- The filing provides transparency regarding Wells Fargo's investment position in Ellsworth Growth and Income Fund.
Industry Context
Schedule 13G filings are standard practice for institutional investors like Wells Fargo & Company when their ownership stake in a publicly traded company exceeds 5%. This filing indicates Wells Fargo's passive investment position in Ellsworth Growth and Income Fund.
Comparison to Industry Standards
- Institutional ownership in closed-end funds can vary widely, but a 7.6% stake is a notable position.
- Comparable companies such as BlackRock or State Street often hold significant positions in similar funds.
- The level of influence exerted by Wells Fargo would depend on the fund's governance structure and the holdings of other major investors.
Stakeholder Impact
- The filing informs shareholders of Ellsworth Growth and Income Fund about a significant institutional investor's position.
- This information can influence investor sentiment and trading activity.
Key Dates
| Date | Description |
|---|---|
| 12/31/2024 | Date of event which requires filing of this statement |
| 01/23/2025 | Date of filing of Schedule 13G by Wells Fargo & Company |
Keywords
Schedule 13G, Ellsworth Growth and Income, Wells Fargo, Beneficial Ownership, Closed-End Fund, SEC Filing
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