Saba Capital Management Files 13D on Ellsworth Growth & Income Fund
Ticker: ECF-PA · Form: SC 13D · Filed: May 13, 2024 · CIK: 793040
| Field | Detail |
|---|---|
| Company | Ellsworth Growth & Income Fund Ltd (ECF-PA) |
| Form Type | SC 13D |
| Filed Date | May 13, 2024 |
| Risk Level | medium |
| Pages | 8 |
| Reading Time | 9 min |
| Key Dollar Amounts | $0.01, $5,839,547 |
| Sentiment | neutral |
Sentiment: neutral
Topics: activist-filing, ownership-change, closed-end-fund
TL;DR
**SABA CAPITAL TAKES STAKE IN ELLSWORTH GROWTH & INCOME FUND LTD**
AI Summary
Saba Capital Management, L.P. has filed a Schedule 13D regarding Ellsworth Growth & Income Fund Ltd. The filing, dated May 13, 2024, indicates a change in beneficial ownership. Saba Capital Management, L.P. is listed as the filer, with Boaz R. Weinstein also noted as a group member.
Why It Matters
This filing signals a potential shift in control or strategy for Ellsworth Growth & Income Fund, as a significant investor has disclosed their holdings and intentions.
Risk Assessment
Risk Level: medium — Schedule 13D filings often precede activist campaigns or significant corporate actions, introducing uncertainty.
Key Players & Entities
- Saba Capital Management, L.P. (company) — Filer of the Schedule 13D
- Ellsworth Growth & Income Fund Ltd (company) — Subject company of the filing
- Boaz R. Weinstein (person) — Group member associated with the filing
FAQ
What is the primary purpose of this Schedule 13D filing?
The filing is to report a change in beneficial ownership of the common shares of Ellsworth Growth & Income Fund Ltd by Saba Capital Management, L.P.
Who is filing this Schedule 13D?
Saba Capital Management, L.P. is filing the Schedule 13D.
What is the CUSIP number for the securities in question?
The CUSIP number for the Common Shares of Ellsworth Growth & Income Fund Ltd is 289074106.
When was this filing made?
The filing was made on May 13, 2024.
Are there any other individuals or entities listed as group members?
Yes, Boaz R. Weinstein is listed as a group member along with Saba Capital Management GP, LLC.
Filing Stats: 2,363 words · 9 min read · ~8 pages · Grade level 14.9 · Accepted 2024-05-13 08:27:05
Key Financial Figures
- $0.01 — LTD (Name of Issuer) Common Shares, $0.01 par value (Title of Class of Securiti
- $5,839,547 — ported herein. A total of approximately $5,839,547 was paid to acquire the Common Shares r
Filing Documents
- formsc13d.htm (SC 13D) — 64KB
- exhibit1.htm (EX-1) — 4KB
- 0001062993-24-009962.txt ( ) — 70KB
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: May 13, 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 Page 10 of 10 Pages Schedule A This Schedule sets forth information with respect to each purchase and sale of Common Shares which were effectuated by Saba Capital during the past sixty days. All transactions were effectuated in the open market through a broker. Trade Date Buy/Sell Shares Price 5/8/2024 Buy 31,910 7.93 5/10/2024 Buy 36,531 7.96