Bancroft Fund (NYSE:BCV) Insider Mario Gabelli Sells 1,000 Shares of Stock

Bancroft Fund Ltd. (NYSE:BCV) insider Mario Gabelli sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $23.43, for a total value of $23,430.00. Following the completion of the sale, the insider owned 27,000 shares in the company, valued at approximately $632,610. This represents a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Bancroft Fund Stock Performance

Bancroft Fund stock opened at $23.45 on Wednesday. The business has a 50 day simple moving average of $21.66 and a 200 day simple moving average of $19.39. Bancroft Fund Ltd. has a one year low of $15.63 and a one year high of $23.88.

Bancroft Fund Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Tuesday, September 16th.

Institutional Investors Weigh In On Bancroft Fund

Hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. increased its holdings in shares of Bancroft Fund by 166.9% during the first quarter. Sit Investment Associates Inc. now owns 283,072 shares of the company’s stock worth $4,930,000 after buying an additional 177,016 shares in 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 company’s stock worth $5,403,000 after acquiring an additional 70,606 shares in the last quarter. Invesco Ltd. grew its position in Bancroft Fund by 141.4% during the 2nd quarter. Invesco Ltd. now owns 31,618 shares of the company’s stock worth $598,000 after acquiring an additional 18,522 shares during the last quarter. Guggenheim Capital LLC increased its holdings in Bancroft Fund by 29.2% during the 2nd quarter. Guggenheim Capital LLC now owns 78,810 shares of the company’s stock valued at $1,490,000 after purchasing an additional 17,794 shares in the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Bancroft Fund during the 2nd quarter valued at $239,000. Institutional investors and hedge funds own 22.43% 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.