Saba Capital Amends Ellsworth Growth & Income Fund Stake

TL;DR

Saba Capital just updated its 13D filing for Ellsworth Growth & Income Fund. Watch this space.

AI Summary

Saba Capital Management, L.P. has filed an amendment (No. 4) to its Schedule 13D, indicating a change in its beneficial ownership of Ellsworth Growth & Income Fund Ltd. The filing, dated August 6, 2024, details Saba Capital's holdings and intentions regarding the issuer's common shares.

Why It Matters

This filing signals potential shifts in control or strategy for Ellsworth Growth & Income Fund Ltd. as a significant investor updates its position.

Risk Assessment

Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant changes in a company's strategic direction, introducing uncertainty.

Key Players & Entities

• Saba Capital Management, L.P. (company) — Filing entity
• Ellsworth Growth & Income Fund Ltd (company) — Subject company
• Boaz R. Weinstein (person) — Group member of Saba Capital Management

FAQ

Key Financial Figures

• $0.01 — ND LTD (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securities
• $11,427,379 — ported herein. A total of approximately $11,427,379 was paid to acquire the Common Shares r

Filing Documents

• formsc13da.htm (SC 13D/A) — 48KB
• 0001062993-24-014479.txt ( ) — 50KB

SECURITY AND ISSUER

Item 1. SECURITY AND ISSUER This Amendment No. 4 amends and supplements the statement on Schedule 13D filed 5/13/24, as amended by Amendment No.1 filed 6/10/24, Amendment No.2 filed 6/21/24, and Amendment No. 3 filed 7/19/24; with respect to the common shares of ELLSWORTH GROWTH & INCOME FUND LTD. This Amendment No. 4 amends items 3 and 5, as set forth below.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

Item 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION Funds for the purchase of the Common Shares were derived from the subscription proceeds from investors and the capital appreciation thereon and margin account borrowings made in the ordinary course of business. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Since other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Common Shares reported herein. A total of approximately $11,427,379 was paid to acquire the Common Shares reported herein.

INTEREST IN SECURITIES OF THE ISSUER

Item 5. INTEREST IN SECURITIES OF THE ISSUER (a) See rows (11) and (13) of the cover pages to this Schedule 13D/A for the aggregate number of Common Shares and percentages of the Common Shares beneficially owned by each of the Reporting Persons. The percentages used herein are calculated based upon 13,790,740 shares of common stock outstanding as of 3/31/24, as disclosed in the company's N-CSRS filed 6/6/24. (b) See rows (7) through (10) of the cover pages to this Schedule 13D/A for the number of Common Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition. (c) The transactions in the Common Shares effected since the filing of the Schedule 13D/A on 7/19/24 by the Reporting Persons, which were all in the open market, are set forth in Schedule A, and are incorporated herein by reference. (d) The funds and accounts advised by Saba Capital have the right to receive the dividends from and proceeds of sales from the Common Shares. (e) Not applicable. CUSIP No. 289074106 SCHEDULE 13D/A Page 6 of 7 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Date: August 5, 2024 SABA CAPITAL MANAGEMENT, L.P. By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Chief Compliance Officer SABA CAPITAL MANAGEMENT GP, LLC By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Authorized Signatory BOAZ R. WEINSTEIN By: /s/ Michael D'Angelo Name: Michael D'Angelo Title: Attorney-in-fact* * Pursuant to a power of attorney dated as of November 16, 2015, which is incorporated herein by reference to Exhibit 2 to the Schedule 13G filed by the Reporting Persons on December 28, 2015, accession number: 0001062993-15-006823 CUSIP No. 289074106 SCHEDULE 13D/A Page 7 of 7 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital since the filing of the Schedule 13D/A on 7/19/24. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 7/19/2024 Buy 21,140 8.44 7/26/2024 Buy 47,289 8.49 7/29/2024 Buy 19,519 8.55 7/30/2024 Buy 18,061 8.54 7/31/2024 Buy 640 8.55 8/1/2024 Buy 29,935 8.59 8/2/2024 Buy 19,433 8.46

View Full Filing

View this SC 13D/A filing on SEC EDGAR