SCHEDULE: Wells Fargo & Company Reports 7.6% Ownership in Ellsworth Growth and Income Fund

Wells Fargo & Company files Schedule 13G, reporting beneficial ownership of 1,033,115 shares, representing 7.6% of Ellsworth Growth and Income's outstanding closed-end fund shares 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.
• Wells Fargo has sole dispositive power over these shares, meaning it has the authority to sell or transfer the shares.
• The filing indicates that the shares were acquired in the ordinary course of business and not for the purpose of influencing control of the issuer.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing, so the sentiment is neutral. It simply reports ownership information.

Positives

• The filing indicates that Wells Fargo's acquisition of shares was in the ordinary course of business.
• The size of the holding indicates a significant investment by Wells Fargo in the fund.

Future Outlook

There is no future outlook provided in this document.

Industry Context

Schedule 13G filings are a common occurrence in the investment management industry, indicating ownership positions in publicly traded companies. This filing indicates Wells Fargo's investment in a closed-end fund, which is a typical investment strategy for large financial institutions.

Comparison to Industry Standards

• Wells Fargo's 7.6% ownership is a notable stake, but not uncommon for institutional investors.
• Comparable filings would include other Schedule 13G/13D filings by major financial institutions like BlackRock, Vanguard, or State Street, disclosing their ownership in various companies.
• The size of the stake is within the range of typical institutional holdings in closed-end funds.

Stakeholder Impact

• The filing informs shareholders of Ellsworth Growth and Income about a significant institutional investor's stake in the company.
• This information can influence investor sentiment and potentially affect the stock price.

Key Dates

Keywords

Schedule 13G, Ellsworth Growth and Income, Wells Fargo & Company, Beneficial Ownership, Closed-End Fund, Investment