Wolverine Asset Management LLC Grows Stock Position in Bancroft Fund Ltd. (NYSE:BCV)

Wolverine Asset Management LLC grew its position in shares of Bancroft Fund Ltd. (NYSE:BCV) by 424.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,478 shares of the company’s stock after purchasing an additional 22,237 shares during the period. Wolverine Asset Management LLC owned approximately 0.47% of Bancroft Fund worth $461,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BCV. Advisors Asset Management Inc. lifted its holdings in Bancroft Fund by 84.3% in the 1st quarter. Advisors Asset Management Inc. now owns 139,259 shares of the company’s stock worth $2,227,000 after buying an additional 63,711 shares in the last quarter. Beckerman Institutional LLC acquired a new position in shares of Bancroft Fund in the third quarter worth about $1,128,000. Cornerstone Advisors LLC grew its stake in Bancroft Fund by 16.2% during the 1st quarter. Cornerstone Advisors LLC now owns 86,934 shares of the company’s stock valued at $1,390,000 after purchasing an additional 12,131 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its stake in Bancroft Fund by 19.2% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock valued at $293,000 after purchasing an additional 3,004 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in Bancroft Fund by 9.0% during 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. 22.43% of the stock is owned by institutional investors and hedge funds.

Bancroft Fund Trading Down 0.2 %

Bancroft Fund stock opened at $17.94 on Thursday. Bancroft Fund Ltd. has a 52 week low of $14.51 and a 52 week high of $18.41. The stock has a 50 day moving average of $16.79 and a 200-day moving average of $16.16.

Bancroft Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Shareholders of record on Monday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.13%. The ex-dividend date was Monday, September 16th.

Insider Transactions at Bancroft Fund

In other news, insider Mario J. Gabelli sold 4,000 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $16.38, for a total transaction of $65,520.00. Following the transaction, the insider now owns 131,000 shares of the company’s stock, valued at approximately $2,145,780. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Bancroft Fund Company Profile

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.