Insider Selling: Bancroft Fund Ltd. (NYSE:BCV) Insider Sells $26,610.00 in Stock

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

Bancroft Fund Trading Up 0.3 %

Shares of BCV opened at $18.24 on Friday. The business’s fifty day simple moving average is $17.84 and its two-hundred day simple moving average is $16.77. Bancroft Fund Ltd. has a 12 month low of $14.51 and a 12 month high of $18.64.

Bancroft Fund Announces Dividend

The firm also recently disclosed 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. The ex-dividend date is Friday, November 22nd. This represents a $1.28 annualized dividend and a dividend yield of 7.02%.

Hedge Funds Weigh In On Bancroft Fund

A number of hedge funds have recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. boosted its holdings 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 valued at $1,003,000 after acquiring an additional 5,288 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its holdings in shares of Bancroft Fund by 19.2% during the second quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock valued at $293,000 after purchasing an additional 3,004 shares during the last quarter. Cornerstone Advisors LLC lifted 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 valued at $1,777,000 after purchasing an additional 26,489 shares during the period. Consolidated Portfolio Review Corp boosted its holdings in Bancroft Fund by 1.3% in the third quarter. Consolidated Portfolio Review Corp now owns 52,646 shares of the company’s stock worth $883,000 after purchasing an additional 670 shares during the last quarter. Finally, Shaker Financial Services LLC boosted its holdings in Bancroft Fund by 23.7% in the third quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock worth $1,408,000 after purchasing an additional 16,100 shares during the last quarter. Hedge funds and other 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.