Bancroft Fund Ltd. Plans Quarterly Dividend of $0.32 (NYSE:BCV)

Key Points

• Bancroft Fund Ltd. has declared a quarterly dividend of $0.32 per share, with payment scheduled for September 23rd to shareholders of record on September 16th, resulting in an annual yield of 6.2%.
• The fund's stock price reached $20.60 during midday trading, showcasing a 52-week range of $15.63 to $20.66.
• Institutional investors have increased their stakes in Bancroft Fund, with recent purchases enhancing shares held across multiple firms, indicating growing confidence in the fund.

Bancroft Fund Ltd. (NYSE:BCV - Get Free Report) declared a quarterly dividend on Wednesday, August 27th, RTT News reports. Shareholders of record on Tuesday, September 16th will be paid a dividend of 0.32 per share on Tuesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.2%.

Bancroft Fund Price Performance

BCV stock traded up $0.04 during midday trading on Wednesday, reaching $20.60. The company's stock had a trading volume of 4,146 shares, compared to its average volume of 19,750. Bancroft Fund has a 52 week low of $15.63 and a 52 week high of $20.66. The business's 50-day simple moving average is $19.48 and its 200-day simple moving average is $18.27.

Hedge Funds Weigh In On Bancroft Fund

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mezzasalma Advisors LLC boosted its stake in Bancroft Fund by 1.4% during the 2nd quarter. Mezzasalma Advisors LLC now owns 40,842 shares of the company's stock worth $772,000 after acquiring an additional 553 shares during the last quarter. Royal Bank of Canada boosted its stake in Bancroft Fund by 2.0% during the 1st quarter. Royal Bank of Canada now owns 42,161 shares of the company's stock worth $735,000 after acquiring an additional 807 shares during the last quarter. Cetera Investment Advisers boosted its stake in Bancroft Fund by 5.0% during the 2nd quarter. Cetera Investment Advisers now owns 18,946 shares of the company's stock worth $358,000 after acquiring an additional 900 shares during the last quarter. Uhlmann Price Securities LLC boosted its stake in Bancroft Fund by 13.5% during the 2nd quarter. Uhlmann Price Securities LLC now owns 22,296 shares of the company's stock worth $421,000 after acquiring an additional 2,649 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in Bancroft Fund by 5.0% during the 4th quarter. Ameriprise Financial Inc. now owns 57,843 shares of the company's stock worth $1,024,000 after acquiring an additional 2,744 shares during the last quarter. 22.43% of the stock is owned by institutional investors.

About Bancroft Fund

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.

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