Bancroft Fund Ltd. (NYSE:BCV) Insider Mario J. Gabelli Sells 1,500 Shares

Bancroft Fund Ltd. (NYSE:BCV) insider Mario J. Gabelli sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $17.74, for a total value of $26,610.00. Following the transaction, the insider now owns 28,000 shares in the company, valued at approximately $496,720. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Bancroft Fund Stock Performance

NYSE BCV traded up $0.19 on Thursday, reaching $18.19. The stock had a trading volume of 7,307 shares, compared to its average volume of 20,025. The firm has a fifty day moving average of $17.80 and a two-hundred day moving average of $16.73. Bancroft Fund Ltd. has a 1-year low of $14.51 and a 1-year high of $18.64.

Bancroft Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, November 22nd will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 7.04%. The ex-dividend date is Friday, November 22nd.

Institutional Trading of Bancroft Fund

Several hedge funds and other institutional investors have recently bought and sold shares of BCV. Cambridge Investment Research Advisors Inc. grew its position in shares of Bancroft Fund by 9.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after purchasing an additional 5,288 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of Bancroft Fund by 19.2% in the second quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock valued at $293,000 after buying an additional 3,004 shares during the period. Cornerstone Advisors LLC grew its position in Bancroft Fund by 30.5% during the second quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock worth $1,777,000 after buying an additional 26,489 shares in the last quarter. Consolidated Portfolio Review Corp increased its stake in Bancroft Fund by 1.3% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 52,646 shares of the company’s stock worth $883,000 after acquiring an additional 670 shares during the period. Finally, Shaker Financial Services LLC raised its holdings in Bancroft Fund by 23.7% in the 3rd quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock valued at $1,408,000 after acquiring an additional 16,100 shares in the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

About Bancroft Fund

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.