Short Interest in Bancroft Fund Ltd. (NYSEAMERICAN:BCV) Rises By 525.0%

Bancroft Fund Ltd. (NYSEAMERICAN:BCV) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 2,500 shares, a growth of 525.0% from the December 15th total of 400 shares. Based on an average daily volume of 25,800 shares, the short-interest ratio is currently 0.1 days.

Shares of NYSEAMERICAN BCV traded down $0.21 during midday trading on Friday, hitting $25.00. 115 shares of the company traded hands, compared to its average volume of 27,360. Bancroft Fund has a 12-month low of $25.12 and a 12-month high of $36.33.

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 28th. Stockholders of record on Wednesday, November 24th were issued a dividend of $3.17 per share. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, November 23rd. This represents a $12.68 dividend on an annualized basis and a dividend yield of 50.72%.

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its position in Bancroft Fund by 21.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 219,178 shares of the financial services provider’s stock valued at $7,018,000 after purchasing an additional 39,272 shares during the period. Morgan Stanley raised its position in Bancroft Fund by 2.4% in the second quarter. Morgan Stanley now owns 157,789 shares of the financial services provider’s stock worth $5,052,000 after acquiring an additional 3,711 shares during the period. LPL Financial LLC bought a new position in Bancroft Fund in the third quarter worth approximately $2,952,000. Royal Bank of Canada raised its position in Bancroft Fund by 4.4% in the third quarter. Royal Bank of Canada now owns 56,635 shares of the financial services provider’s stock worth $1,678,000 after acquiring an additional 2,385 shares during the period. Finally, Cambridge Investment Research Advisors Inc. raised its position in Bancroft Fund by 4.2% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 44,456 shares of the financial services provider’s stock worth $1,317,000 after acquiring an additional 1,803 shares during the period. Hedge funds and other institutional investors own 22.73% of the company’s stock.

Bancroft Fund Company Profile

Bancroft Fund Ltd. (NYSE MKT: BCV) operates as a closed-end, diversified management company and invests primarily in convertible securities with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.

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