FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SUSAN L CICIORA TRUST
2. Issuer Name and Ticker or Trading Symbol

BOULDER GROWTH & INCOME FUND [ BIF ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                    __X__ 10% Owner
_____ Officer (give title below)    _____ Other (specify below)
(Last)          (First)          (Middle)

C/O ALASKA TRUST COMPANY, 3000 A STREET, SUITE 200
3. Date of Earliest Transaction (MM/DD/YYYY)

10/30/2020
(Street)

ANCHORAGE, AK 99503
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

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

_X _ Form filed by One Reporting Person
___ 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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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 10/30/2020  P  5543695 (1)A$6.5643 13203015 D (2)(3) 
COMMON STOCK 10/30/2020  P  10146367 (1)A$6.5643 23349382 D (2)(3) 

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
6. Date Exercisable and Expiration Date7. 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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares

Explanation of Responses:
(1) On October 30, 2020, the Reporting Person purchased shares (the "Shares") of Issuer from two affiliated trusts, Mildred Horejsi Trust ("MHT") and Lola Brown Trust No. 1B ("LBT"). The Reporting Person (also referred to herein as the "Trust") purchased 5,543,695 Shares from MHT and 10,146,367 Shares from LBT, representing all the Shares then owned by MHT and LBT. The purchase price for the Shares was calculated based on the average of the opening and closing prices reported for such shares by the New York Stock Exchange on October 30, 2020, after applying a blockage discount because of the large size of the aggregate holdings of the Reporting Person and affiliated trusts.
(2) The trustee of the Trust is Peak Trust Company-AK, which may be deemed to control the Trust. Although Stewart R. Horejsi is neither a trustee nor beneficiary under the Trust, because of his advisory role with the Trust, he may be deemed to have indirect beneficial ownership of the shares directly beneficially owned by the Trust. However, Mr. Horejsi disclaims such beneficial ownership of the shares directly beneficially held by the Trust.
(3) The Trust and trusts, persons and entities affiliated with the Trust, including Stewart West Indies Trust, John S. Horejsi Trust, John X. Ciciora Trust, Jack S. Ciciora Trust, Amanda N. Ciciora Trust, Courtney M. Ciciora Trust and Susan L. Ciciora own an aggregate of 45,384,254 shares of the Issuer.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
SUSAN L CICIORA TRUST
C/O ALASKA TRUST COMPANY
3000 A STREET, SUITE 200
ANCHORAGE, AK 99503

X


Signatures
/s/ Matthew Blattmachr11/3/2020
**Signature of Reporting PersonDate

President Peak Trust Company, Trustee of the Trust11/3/2020
**Signature of Reporting PersonDate

Stewart R. Horejsi11/3/2020
**Signature of Reporting PersonDate

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