UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934*
Ellsworth Growth & Income Fund Ltd.
(Name of Issuer)
Series A & Series B Preferred Shares (“Preferred Shares”)
(Title of Class of Securities)
289074205 & 289074304
(CUSIP Number)
July 1, 2022
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*The remainder of this cover page shall be filled out for the reporting person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act
of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 289074205 & 289074304
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1
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Names of reporting persons
I.R.S. identification nos. of above persons (entities only)
MJG 1999 Descendants Trust
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2
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Check the appropriate box if
a member of a group (SEE INSTRUCTIONS) (a)X
(b)
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3
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Sec use only
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4
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Citizenship or place of organization
Massachusetts
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Number Of
Shares
Beneficially
Owned
By Each
Reporting
Person
With
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: 5
:
:
:
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Sole voting power
200,000
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: 6
:
:
:
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Shared voting power
None
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: 7
:
:
:
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Sole dispositive power
200,000
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:8
:
:
:
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Shared dispositive power
None
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9
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Aggregate amount beneficially owned by each reporting person
200,000
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10
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Check box if the aggregate amount in row (9) excludes certain shares
(SEE INSTRUCTIONS)
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11
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Percent of class represented by amount in row (9)
5.40%
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12
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Type of reporting person (SEE INSTRUCTIONS)
IV
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Item 1(a). Name of Issuer
Ellsworth Growth and Income Fund Ltd.
Item 1(b). Address of Issuer’s Principal Executive Offices
One Corporate Center
Rye, NY 10580-1422
Item 2(a). Name of Person Filing
MJG 1999 Descendants Trust (the “Reporting Person”)
Item 2(b). Address of Principal Business Offices
One Corporate Center, Rye, N.Y. 10580
Item 2(c). Citizenship
Delaware
Item 2(d). Title of Class of Securities
|
Series A & Series B Preferred Shares
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Item 2(e). CUSIP No.
289074205
& 289074304
Item 3.
If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b) or (c), check whether the person filing is a:
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a.
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[ ] Broker or dealer registered under Section 15 of the Act;
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b.
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[ ] Bank as defined in Section 3(a)(6) of the Act;
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c.
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[ ] Insurance company as defined in Section 3(a)(19) of the Act;
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d.
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[ ] Investment company registered under Section 8 of the Investment Company Act of 1940;
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e.
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[ ] An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E);
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f.
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[ ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F);
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g.
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[ ] A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G);
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h.
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[ ] A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
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i.
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[ ] A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940;
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j.
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[ ] A non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J);
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k.
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[ ] Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 240.13d-1(b)(1)(ii)(J), please
specify the type of institution: ____
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Item 4. Ownership
The aggregate number of Securities to which this Schedule 13G relates is 200,000 Preferred Shares, representing 5.4% of the 3,703,000
Preferred Shares outstanding as reported by the Issuer.
The Reporting Person exercises in its sole discretion the entire voting power with respect to all shares of the Issuer held and to be
held by the Reporting Person.
Item 5. Ownership of Five Percent or Less of a Class
Not applicable.
Item 6. Ownership of More than 5 Percent on Behalf of Another Person
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security
Being Reported on by the Parent Holding Company or Control Person
Not applicable.
Item 8. Identification and Classification of Members of the Group
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
Item 10. Certification.
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in
the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a
participant in any transaction having that purpose or effect.
Signature
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true,
complete and correct.
Dated: July 11, 2022
MJG 1999 DESCENDANTS TRUST
By:/s/ John Gabelli
John Gabelli
Trustee