Beckerman Institutional LLC acquired a new stake in Bancroft Fund Limited (NYSEAMERICAN:BCV - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 72,888 shares of the financial services provider's stock, valued at approximately $1,894,000. Bancroft Fund comprises about 0.9% of Beckerman Institutional LLC's holdings, making the stock its 21st largest position. Beckerman Institutional LLC owned 1.25% of Bancroft Fund at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BCV. Saba Capital Management L.P. grew its stake in shares of Bancroft Fund by 14.9% in the fourth quarter. Saba Capital Management L.P. now owns 361,294 shares of the financial services provider's stock valued at $7,985,000 after acquiring an additional 46,755 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Bancroft Fund by 7.4% in the third quarter. Ameriprise Financial Inc. now owns 306,950 shares of the financial services provider's stock valued at $6,717,000 after purchasing an additional 21,151 shares in the last quarter. Pathstone Holdings LLC lifted its position in Bancroft Fund by 245.0% during the third quarter. Pathstone Holdings LLC now owns 99,665 shares of the financial services provider's stock worth $2,181,000 after purchasing an additional 70,776 shares during the period. Bank of America Corp DE increased its holdings in Bancroft Fund by 25,710.4% in the 3rd quarter. Bank of America Corp DE now owns 99,628 shares of the financial services provider's stock valued at $2,180,000 after buying an additional 99,242 shares during the period. Finally, Blue Bell Private Wealth Management LLC raised its position in shares of Bancroft Fund by 21.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 97,374 shares of the financial services provider's stock valued at $2,152,000 after buying an additional 17,095 shares in the last quarter. 22.43% of the stock is currently owned by institutional investors.
Bancroft Fund Stock Up 0.2%
Shares of BCV stock opened at $24.81 on Friday. Bancroft Fund Limited has a fifty-two week low of $19.99 and a fifty-two week high of $27.33. The stock's fifty day moving average price is $24.97 and its two-hundred day moving average price is $24.15.
Bancroft Fund Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Wednesday, September 16th. This is a positive change from Bancroft Fund's previous quarterly dividend of $0.35.
Bancroft Fund Company Profile
(
Free Report)
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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