Bancroft Fund Limited (NYSEAMERICAN:BCV) Sees Large Decline in Short Interest

Key Points

• Short interest in Bancroft Fund fell sharply, dropping 40.9% to 3,757 shares as of April 15, representing about 0.1% of shares outstanding and a days-to-cover of 0.2.
• The fund paid a quarterly dividend of $0.35 (annualized $1.40), yielding about 5.8% with an ex-dividend date of March 17.
• Several institutional investors recently initiated or increased positions (including Raymond James, PNC, Osaic and First Trust), and institutions now own about 22.43% of the stock.

Bancroft Fund Limited (NYSEAMERICAN:BCV - Get Free Report) saw a significant drop in short interest during the month of April. As of April 15th, there was short interest totaling 3,757 shares, a drop of 40.9% from the March 31st total of 6,358 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 24,007 shares, the days-to-cover ratio is presently 0.2 days.

Bancroft Fund Trading Up 0.2%

Shares of NYSEAMERICAN:BCV traded up $0.04 during midday trading on Monday, hitting $24.12. The company's stock had a trading volume of 15,517 shares, compared to its average volume of 19,116. The stock's 50 day simple moving average is $22.72 and its 200 day simple moving average is $22.82. Bancroft Fund has a fifty-two week low of $16.60 and a fifty-two week high of $24.55.

Bancroft Fund Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend was Tuesday, March 17th.

Institutional Investors Weigh In On Bancroft Fund

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caldwell Trust Co bought a new stake in shares of Bancroft Fund in the fourth quarter valued at about $55,000. Raymond James Financial Inc. bought a new stake in shares of Bancroft Fund in the second quarter valued at about $136,000. PNC Financial Services Group Inc. lifted its stake in shares of Bancroft Fund by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,660 shares of the financial services provider's stock valued at $146,000 after buying an additional 500 shares during the period. Osaic Holdings Inc. lifted its stake in shares of Bancroft Fund by 95.8% in the second quarter. Osaic Holdings Inc. now owns 8,415 shares of the financial services provider's stock valued at $159,000 after buying an additional 4,118 shares during the period. Finally, First Trust Advisors LP bought a new stake in shares of Bancroft Fund in the third quarter valued at about $206,000. 22.43% of the stock is owned by institutional investors and hedge funds.

About Bancroft Fund

Bancroft Fund, Inc (NYSE American: BCV) is a closed-end management investment company that seeks long-term growth of capital. Shares of the Fund trade on the NYSE American exchange, providing investors with access to a diversified portfolio of U.S. equity securities under a closed-end structure. The Fund's board of directors oversees a disciplined investment process governed by a stated strategy and risk parameters.

The Fund's primary investment objective is capital appreciation. To pursue this goal, Bancroft Fund allocates at least 80% of its total assets to equity securities of U.S.

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