Bancroft Fund Limited (NYSEAMERICAN:BCV) Shares Shorted: Short Interest Down 65.4% in October

Bancroft Fund Limited (NYSEAMERICAN:BCV) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totaling 3,231 shares, a decrease of 65.4% from the September 30th total of 9,349 shares. Based on an average daily trading volume, of 16,602 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the shares of the stock are short sold.

Bancroft Fund Trading Down 2.0%

NYSEAMERICAN BCV traded down $0.45 during trading hours on Friday, hitting $21.75. 17,063 shares of the company were exchanged, compared to its average volume of 12,728. The stock has a 50-day moving average price of $23.41 and a 200 day moving average price of $23.94. Bancroft Fund has a 52 week low of $21.06 and a 52 week high of $27.33.

Bancroft Fund Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, September 16th. This represents a $1.64 annualized dividend and a dividend yield of 7.5%. This is an increase from Bancroft Fund’s previous quarterly dividend of $0.35.

Institutional Trading of Bancroft Fund

A number of institutional investors have recently bought and sold shares of BCV. Allworth Financial LP purchased a new stake in shares of Bancroft Fund in the second quarter valued at $26,000. Integrated Wealth Concepts LLC purchased a new position in shares of Bancroft Fund during the 2nd quarter worth about $73,000. PNC Financial Services Group Inc. boosted its stake in shares of Bancroft Fund by 48.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,205 shares of the financial services provider’s stock worth $198,000 after purchasing an additional 3,000 shares during the period. Susquehanna International Group LLP bought a new position in Bancroft Fund during the 2nd quarter valued at about $301,000. Finally, Evolve Private Wealth LLC bought a new position in Bancroft Fund during the 2nd quarter valued at about $524,000. 22.43% of the stock is currently owned by institutional investors.

About Bancroft Fund

Bancroft Fund, Inc is a closed-end investment company listed on the NYSE American under the symbol BCV. The fund seeks to provide shareholders with a combination of current income and long-term capital appreciation through a managed portfolio of investments.

The fund primarily invests in convertible securities, including convertible bonds and convertible preferred stocks, as well as other income-producing and equity securities. Convertible investments may provide regular income while also offering the potential to participate in the growth of the underlying companies’ common stocks.