Bancroft Fund Limited (NYSEAMERICAN:BCV) Short Interest Up 146.3% in May

Bancroft Fund Limited (NYSEAMERICAN:BCV) saw a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 6,390 shares, a growth of 146.3% from the May 14th total of 2,594 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 16,874 shares, the days-to-cover ratio is currently 0.4 days.

Hedge Funds Weigh In On Bancroft Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in BCV. Bank of America Corp DE boosted its holdings in shares of Bancroft Fund by 25,710.4% in the 3rd quarter. Bank of America Corp DE now owns 99,628 shares of the financial services provider’s stock worth $2,180,000 after buying an additional 99,242 shares during the last quarter. Pathstone Holdings LLC boosted its holdings in shares of Bancroft Fund by 245.0% in the 3rd quarter. Pathstone Holdings LLC now owns 99,665 shares of the financial services provider’s stock worth $2,181,000 after buying an additional 70,776 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Bancroft Fund by 32.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the financial services provider’s stock worth $5,403,000 after buying an additional 70,606 shares during the last quarter. Saba Capital Management L.P. boosted its holdings in shares of Bancroft Fund by 14.9% in the 4th quarter. Saba Capital Management L.P. now owns 361,294 shares of the financial services provider’s stock worth $7,985,000 after buying an additional 46,755 shares during the last quarter. Finally, Bulldog Investors LLP bought a new stake in Bancroft Fund in the 3rd quarter valued at about $863,000. 22.43% of the stock is owned by hedge funds and other institutional investors.

Bancroft Fund Price Performance

Shares of NYSEAMERICAN:BCV traded up $0.25 during midday trading on Friday, reaching $25.52. The company had a trading volume of 42,876 shares, compared to its average volume of 17,967. The company’s 50 day moving average price is $24.60 and its 200 day moving average price is $23.35. Bancroft Fund has a 52-week low of $18.11 and a 52-week high of $27.33.

Bancroft Fund Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Investors of record on Monday, June 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Monday, June 15th.

About Bancroft Fund

Bancroft Fund, Inc (NYSE American: BCV) is a closed-end management investment company that seeks long-term growth of capital. Shares of the Fund trade on the NYSE American exchange, providing investors with access to a diversified portfolio of U.S. equity securities under a closed-end structure. The Fund’s board of directors oversees a disciplined investment process governed by a stated strategy and risk parameters.

The Fund’s primary investment objective is capital appreciation. To pursue this goal, Bancroft Fund allocates at least 80% of its total assets to equity securities of U.S.