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

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

Bancroft Fund Trading Up 0.3 %

BCV opened at $18.24 on Friday. The firm’s fifty day moving average price is $17.84 and its two-hundred day moving average price is $16.76. Bancroft Fund Ltd. has a fifty-two week low of $14.51 and a fifty-two week high of $18.64.

Bancroft Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, November 22nd will be paid a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 7.02%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bancroft Fund by 9.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock valued at $1,003,000 after purchasing an additional 5,288 shares during the period. Blue Bell Private Wealth Management LLC grew its position in 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 acquiring an additional 3,004 shares during the period. Cornerstone Advisors LLC grew its position in Bancroft Fund by 30.5% in the second quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock valued at $1,777,000 after acquiring an additional 26,489 shares during the period. Consolidated Portfolio Review Corp raised 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 worth $883,000 after acquiring an additional 670 shares in the last quarter. Finally, Shaker Financial Services LLC lifted its holdings in shares of Bancroft Fund by 23.7% during the third 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 during the period. Institutional investors and hedge funds 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.