Mario Gabelli Sells 1,000 Shares of Bancroft Fund (NYSE:BCV) Stock

Key Points

• Mario Gabelli sold 1,000 shares of Bancroft Fund (NYSE:BCV) for a total of $23,430, reducing his ownership by 3.57% to 27,000 shares, valued at approximately $632,610.
• Bancroft Fund recently declared a quarterly dividend of $0.32, resulting in an annualized dividend of $1.28 and a yield of 5.5%.
• Institutional investors own 22.43% of Bancroft Fund, with notable increases in holdings from firms like Ameriprise Financial and Sit Investment Associates.

Bancroft Fund Ltd. (NYSE:BCV - ) insider Mario Gabelli sold 1,000 shares of the business's stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $23.43, for a total transaction of $23,430.00. Following the completion of the sale, the insider owned 27,000 shares in the company, valued at approximately $632,610. This trade represents a 3.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Bancroft Fund Trading Up 0.1%

BCV traded up $0.03 during trading on Tuesday, reaching $23.45. The company had a trading volume of 15,865 shares, compared to its average volume of 22,381. The firm's 50-day simple moving average is $21.59 and its 200 day simple moving average is $19.36. Bancroft Fund Ltd. has a 12-month low of $15.63 and a 12-month high of $23.88.

Bancroft Fund Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 23rd. Investors of record on Tuesday, September 16th were paid a $0.32 dividend. The ex-dividend date of this dividend was Tuesday, September 16th. This represents a $1.28 dividend on an annualized basis and a yield of 5.5%.

Hedge Funds Weigh In On Bancroft Fund

Institutional investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its stake in Bancroft Fund by 32.8% during the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the company's stock valued at $5,403,000 after acquiring an additional 70,606 shares in the last quarter. Sit Investment Associates Inc. increased its holdings in shares of Bancroft Fund by 166.9% in the 1st quarter. Sit Investment Associates Inc. now owns 283,072 shares of the company's stock valued at $4,930,000 after purchasing an additional 177,016 shares during the period. Guggenheim Capital LLC increased its holdings in shares of Bancroft Fund by 29.2% in the 2nd quarter. Guggenheim Capital LLC now owns 78,810 shares of the company's stock valued at $1,490,000 after purchasing an additional 17,794 shares during the period. Beckerman Institutional LLC increased its holdings in shares of Bancroft Fund by 13.4% in the 1st quarter. Beckerman Institutional LLC now owns 75,763 shares of the company's stock valued at $1,319,000 after purchasing an additional 8,954 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Bancroft Fund by 11.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 61,943 shares of the company's stock valued at $1,079,000 after purchasing an additional 6,478 shares during the period. Hedge funds and other institutional investors own 22.43% of the company's stock.

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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