Bancroft Fund Ltd. (NYSE:BCV) Shares Acquired by Saba Capital Management L.P.

Saba Capital Management L.P. raised its stake in Bancroft Fund Ltd. (NYSE:BCV - Free Report) by 11.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,401 shares of the company's stock after purchasing an additional 29,286 shares during the period. Saba Capital Management L.P. owned about 4.81% of Bancroft Fund worth $5,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in BCV. Stifel Financial Corp purchased a new position in Bancroft Fund in the fourth quarter worth approximately $208,000. Raymond James Financial Inc. acquired a new stake in shares of Bancroft Fund in the 4th quarter valued at $222,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Bancroft Fund during the 4th quarter worth $496,000. Bulldog Investors LLP grew its stake in shares of Bancroft Fund by 75.3% during the fourth quarter. Bulldog Investors LLP now owns 39,176 shares of the company's stock worth $694,000 after purchasing an additional 16,831 shares in the last quarter. Finally, Mezzasalma Advisors LLC purchased a new position in Bancroft Fund in the fourth quarter valued at $723,000. Hedge funds and other institutional investors own 22.43% of the company's stock.

Bancroft Fund Stock Up 0.3%

Bancroft Fund stock traded up $0.05 during midday trading on Thursday, reaching $17.78. The company's stock had a trading volume of 10,241 shares, compared to its average volume of 18,713. The business has a 50-day simple moving average of $17.12 and a 200-day simple moving average of $17.78. Bancroft Fund Ltd. has a fifty-two week low of $15.20 and a fifty-two week high of $18.77.

Bancroft Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 23rd. Stockholders of record on Friday, June 13th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.20%.

Bancroft Fund 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.