Bancroft Fund Ltd. (NYSE:BCV) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. reduced its stake in Bancroft Fund Ltd. (NYSE:BCV) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 145,320 shares of the company’s stock after selling 1,755 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bancroft Fund were worth $2,574,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Mezzasalma Advisors LLC acquired a new position in shares of Bancroft Fund during the fourth quarter worth approximately $723,000. Raymond James Financial Inc. acquired a new position in shares of Bancroft Fund during the fourth quarter worth approximately $222,000. Finally, Blue Bell Private Wealth Management LLC boosted its position in shares of Bancroft Fund by 57.2% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 55,465 shares of the company’s stock worth $982,000 after buying an additional 20,177 shares during the period. 22.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Bancroft Fund

In related news, insider Mario J. Gabelli sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $17.74, for a total transaction of $26,610.00. Following the sale, the insider now owns 28,000 shares of the company’s stock, valued at $496,720. The trade was a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company’s stock.

Bancroft Fund Trading Down 0.5 %

Shares of NYSE BCV opened at $17.97 on Friday. The stock has a 50 day simple moving average of $18.17 and a 200-day simple moving average of $17.67. Bancroft Fund Ltd. has a 12-month low of $14.51 and a 12-month high of $18.77.

Bancroft Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.32 per share. The ex-dividend date is Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 7.12%.

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.