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

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

Bancroft Fund Trading Down 2.7%

Shares of BCV opened at $22.82 on Thursday. The stock has a fifty day moving average price of $21.72 and a two-hundred day moving average price of $19.41. Bancroft Fund Ltd. has a 52-week low of $15.63 and a 52-week high of $23.88.

Bancroft Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 23rd. Shareholders of record on Tuesday, September 16th were given a $0.32 dividend. The ex-dividend date was Tuesday, September 16th. This represents a $1.28 annualized dividend and a yield of 5.6%.

Hedge Funds Weigh In On Bancroft Fund

Institutional investors have recently bought and sold shares of the business. Sit Investment Associates Inc. raised its position in Bancroft Fund by 166.9% in the 1st quarter. Sit Investment Associates Inc. now owns 283,072 shares of the company’s stock valued at $4,930,000 after purchasing an additional 177,016 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Bancroft Fund in the 1st quarter valued at $228,000. Uhlmann Price Securities LLC increased its stake in shares of Bancroft Fund by 13.5% in the 2nd quarter. Uhlmann Price Securities LLC now owns 22,296 shares of the company’s stock valued at $421,000 after buying an additional 2,649 shares during the period. Blue Bell Private Wealth Management LLC increased its stake in shares of Bancroft Fund by 11.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 61,943 shares of the company’s stock valued at $1,079,000 after buying an additional 6,478 shares during the period. Finally, Mezzasalma Advisors LLC increased its stake in shares of Bancroft Fund by 1.4% in the 2nd quarter. Mezzasalma Advisors LLC now owns 40,842 shares of the company’s stock valued at $772,000 after buying an additional 553 shares during the period. Institutional investors 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.