Bancroft Fund Ltd. (NYSE:BCV) Insider Mario J. Gabelli Sells 1,500 Shares

Bancroft Fund Ltd. (NYSE:BCV) insider Mario J. Gabelli sold 1,500 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $17.74, for a total value of $26,610.00. Following the completion of the sale, the insider now directly owns 28,000 shares in the company, valued at approximately $496,720. This represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Bancroft Fund Stock Up 1.1 %

BCV opened at $18.19 on Friday. The stock’s 50 day moving average price is $17.82 and its two-hundred day moving average price is $16.74. Bancroft Fund Ltd. has a 12-month low of $14.51 and a 12-month high of $18.64.

Bancroft Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, November 22nd will be paid a $0.32 dividend. The ex-dividend date is Friday, November 22nd. This represents a $1.28 annualized dividend and a dividend yield of 7.04%.

Hedge Funds Weigh In On Bancroft Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. grew its position in Bancroft Fund by 9.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after purchasing an additional 5,288 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its stake in shares of Bancroft Fund by 19.2% in the second quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock valued at $293,000 after buying an additional 3,004 shares during the period. Cornerstone Advisors LLC grew its position in Bancroft Fund by 30.5% during the second quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock worth $1,777,000 after buying an additional 26,489 shares in the last quarter. Consolidated Portfolio Review Corp increased its stake in Bancroft Fund by 1.3% during the third quarter. Consolidated Portfolio Review Corp now owns 52,646 shares of the company’s stock valued at $883,000 after acquiring an additional 670 shares during the period. Finally, Shaker Financial Services LLC raised its holdings in Bancroft Fund by 23.7% in the 3rd quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock valued at $1,408,000 after acquiring an additional 16,100 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.

About Bancroft Fund

Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets. It primarily invests in convertible securities including convertible debt and convertible preferred stocks. The fund invests in stocks of companies across market capitalization.