Bancroft Fund Limited (NYSEAMERICAN:BCV) Sees Significant Increase in Short Interest

Bancroft Fund Limited (NYSEAMERICAN:BCV) was the target of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 9,349 shares, a growth of 56.1% from the September 15th total of 5,990 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average trading volume of 9,531 shares, the short-interest ratio is currently 1.0 days.

Bancroft Fund Trading Down 1.7%

NYSEAMERICAN BCV traded down $0.39 on Friday, reaching $22.01. 6,559 shares of the company’s stock traded hands, compared to its average volume of 13,525. The stock has a 50 day moving average price of $24.07 and a 200-day moving average price of $24.44. Bancroft Fund has a fifty-two week low of $21.06 and a fifty-two 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 paid a $0.41 dividend. The ex-dividend date was Wednesday, September 16th. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.35. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.5%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BCV. Bank of America Corp DE acquired a new stake in shares of Bancroft Fund during the 2nd quarter worth approximately $2,620,000. Beckerman Institutional LLC purchased a new position in shares of Bancroft Fund during the 2nd quarter valued at approximately $1,894,000. Mezzasalma Advisors LLC increased its holdings in shares of Bancroft Fund by 1.4% during the 3rd quarter. Mezzasalma Advisors LLC now owns 37,244 shares of the financial services provider’s stock valued at $860,000 after purchasing an additional 521 shares in the last quarter. Royal Bank of Canada increased its holdings in shares of Bancroft Fund by 2.1% during the 1st quarter. Royal Bank of Canada now owns 36,148 shares of the financial services provider’s stock valued at $779,000 after purchasing an additional 729 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Bancroft Fund by 114.4% in the 1st quarter. First Trust Advisors LP now owns 25,913 shares of the financial services provider’s stock valued at $558,000 after purchasing an additional 13,827 shares during the period. 22.43% of the stock is owned by institutional investors and hedge funds.

About Bancroft Fund

Bancroft Fund, Ltd. is a diversified, closed-end management investment company listed on the NYSE American under the symbol BCV. The fund seeks to provide investors with current income and the opportunity for capital appreciation by investing primarily in convertible securities.

Its portfolio may include convertible bonds, convertible preferred stocks and other income-producing securities. Convertible investments generally provide a combination of interest or dividend income and the potential to participate in the equity appreciation of the underlying issuer.