[Form 4] Ellsworth Growth and Income Fund Ltd Insider Trading Activity

Rhea-AI Filing Summary

Saba Capital Management, L.P. and individual reporting person Boaz Weinstein reported purchases of common stock of Ellsworth Growth & Income Fund Ltd (ECF). On 08/19/2025 Saba (indirect) acquired 8,031 shares at $10.69 per share, bringing the total beneficial ownership reported to 1,635,252 shares (indirect). The Form 4 was signed and dated 08/21/2025 by authorized signatories.

Positive

• Reported purchase of 8,031 shares at $10.69 shows continued accumulation by an affiliate
• Complete disclosure including transaction date, price, and post-transaction beneficial ownership (1,635,252 shares)

Negative

• None.

Insights

Securities Analyst

TL;DR: Minor insider purchase by a large holder increases reported indirect stake to 1.635M shares, a routine disclosure.

The Form 4 documents a small open-market purchase of 8,031 common shares at $10.69 by Saba Capital Management (reported indirectly), raising reported beneficial holdings to 1,635,252 shares. The transaction appears to be a routine incremental buy rather than a block acquisition or change in control. For investors, the filing confirms continued insider/affiliate accumulation but does not, by itself, provide evidence of a material strategic shift or significant corporate event.

Corporate Governance Expert

TL;DR: Governance disclosure is complete and timely; the purchase was reported and signed within expected form requirements.

The Form 4 includes required details: reporting persons' names and addresses, relationship to the issuer (director and 10% owner), transaction date (08/19/2025), transaction code (P for purchase), number of shares, price per share, and post-transaction beneficial ownership. The form is signed and dated 08/21/2025. This meets Section 16 reporting standards and provides transparency on insider trading activity without revealing any change in board composition or control.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ELLSWORTH GROWTH & INCOME FUND LTD [ ECF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/19/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	08/19/2025		P		8,031	A	$10.69	1,635,252	I	-

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

Saba Capital Management, L.P.

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Weinstein Boaz

(Last) (First) (Middle)

405 LEXINGTON AVENUE

58TH FLOOR

(Street)

NEW YORK NY 10174

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

	Saba Capital Management, L.P. By: Zachary Gindes	08/21/2025
	Boaz Weinstein	08/21/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Saba Capital report filing Form 4 for ECF?

The filing reports that Saba Capital Management, L.P. indirectly purchased 8,031 shares of Ellsworth Growth & Income Fund Ltd (ECF) on 08/19/2025 at $10.69 per share.

How many shares does the reporting person beneficially own after the transaction?

The Form 4 reports 1,635,252 shares as the amount of common stock beneficially owned following the reported purchase.

Who signed and dated the Form 4?

The Form 4 shows signatures by an authorized representative of Saba Capital Management and by Boaz Weinstein, each dated 08/21/2025.

What transaction code was used on the Form 4?

The transaction is coded P, indicating an open-market purchase of shares.

Does this Form 4 indicate a change in control or director status?

No. The filing lists the reporting persons as Director and a 10% owner; it does not indicate any change in control or board composition.