Invesco Ltd. Acquires New Holdings in Bancroft Fund Ltd. $BCV

Key Points

• Invesco Ltd. has acquired a new stake in Bancroft Fund Ltd. totaling 13,096 shares, valued at approximately $228,000, representing about 0.22% ownership.
• The Bancroft Fund declared a quarterly dividend of $0.32 per share, with an annualized yield of 6.2%, to be paid on September 23rd.
• Bancroft Fund Ltd. saw its stock decrease by 1.3%, currently trading at $20.78, with a year range between a low of $15.63 and a high of $21.20.

Invesco Ltd. acquired a new stake in Bancroft Fund Ltd. (NYSE:BCV - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 13,096 shares of the company's stock, valued at approximately $228,000. Invesco Ltd. owned about 0.22% of Bancroft Fund at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stifel Financial Corp bought a new position in shares of Bancroft Fund during the fourth quarter valued at $208,000. Raymond James Financial Inc. bought a new position in shares of Bancroft Fund during the fourth quarter valued at $222,000. Ameriprise Financial Inc. raised its stake in shares of Bancroft Fund by 5.0% during the fourth quarter. Ameriprise Financial Inc. now owns 57,843 shares of the company's stock valued at $1,024,000 after acquiring an additional 2,744 shares during the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Bancroft Fund by 11.7% during the first quarter. Blue Bell Private Wealth Management LLC now owns 61,943 shares of the company's stock valued at $1,079,000 after acquiring an additional 6,478 shares during the last quarter. Finally, Beckerman Institutional LLC raised its stake in shares of Bancroft Fund by 13.4% during the first quarter. Beckerman Institutional LLC now owns 75,763 shares of the company's stock valued at $1,319,000 after acquiring an additional 8,954 shares during the last quarter. Institutional investors own 22.43% of the company's stock.

Bancroft Fund Stock Down 1.3%

BCV stock opened at $20.78 on Monday. The company has a fifty day moving average price of $19.86 and a 200-day moving average price of $18.40. Bancroft Fund Ltd. has a 52-week low of $15.63 and a 52-week high of $21.20.

Bancroft Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 23rd. Stockholders of record on Tuesday, September 16th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.28 annualized dividend and a dividend yield of 6.2%.

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.

Want to see what other hedge funds are holding BCV? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Bancroft Fund Ltd. (NYSE:BCV - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.