Bancroft Fund (NYSEAMERICAN:BCV) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Bancroft Fund Limited (NYSEAMERICAN:BCV) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $25.27 and traded as high as $25.80. Bancroft Fund shares last traded at $25.65, with a volume of 6,219 shares trading hands.

Bancroft Fund Stock Down 0.6%

The stock’s fifty day simple moving average is $25.35 and its two-hundred day simple moving average is $23.70.

Bancroft Fund Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Investors of record on Monday, June 15th were paid a $0.35 dividend. The ex-dividend date was Monday, June 15th. This represents a $1.40 annualized dividend and a dividend yield of 5.4%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its stake in Bancroft Fund by 2.0% during the first quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock valued at $735,000 after buying an additional 807 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Bancroft Fund by 5.0% during the second quarter. Cetera Investment Advisers now owns 18,946 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 900 shares in the last quarter. Invesco Ltd. raised its position in shares of Bancroft Fund by 141.4% in the 2nd quarter. Invesco Ltd. now owns 31,618 shares of the financial services provider’s stock worth $598,000 after purchasing an additional 18,522 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Bancroft Fund in the 2nd quarter worth about $136,000. Finally, Ameriprise Financial Inc. boosted its stake in 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 purchasing an additional 70,606 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.

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.