Bancroft Fund Limited (NYSEAMERICAN:BCV – Get Free Report)’s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $24.44 and traded as low as $21.31. Bancroft Fund shares last traded at $21.44, with a volume of 2,492 shares trading hands.
Bancroft Fund Stock Performance
The company’s 50-day moving average price is $23.71 and its two-hundred day moving average price is $24.44.
Bancroft Fund Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 16th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 7.6%. The ex-dividend date was Wednesday, September 16th. This is an increase from Bancroft Fund’s previous quarterly dividend of $0.35.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in BCV. Bank of America Corp DE bought a new stake in shares of Bancroft Fund during the 2nd quarter valued at about $2,620,000. Beckerman Institutional LLC bought a new stake in Bancroft Fund in the second quarter worth approximately $1,894,000. Mezzasalma Advisors LLC increased its holdings in Bancroft Fund by 1.4% in the third quarter. Mezzasalma Advisors LLC now owns 37,244 shares of the financial services provider’s stock worth $860,000 after purchasing an additional 521 shares in the last quarter. Royal Bank of Canada lifted its stake in Bancroft Fund by 2.1% in the first quarter. Royal Bank of Canada now owns 36,148 shares of the financial services provider’s stock valued at $779,000 after buying an additional 729 shares during the period. Finally, First Trust Advisors LP lifted its stake in Bancroft Fund by 114.4% in the first quarter. First Trust Advisors LP now owns 25,913 shares of the financial services provider’s stock valued at $558,000 after buying an additional 13,827 shares during the period. 22.43% of the stock is 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.
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