Sit Investment Associates Inc. Takes Position in Bancroft Fund Ltd. (NYSE:BCV)

Sit Investment Associates Inc. bought a new position in Bancroft Fund Ltd. (NYSE:BCV - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 106,056 shares of the company's stock, valued at approximately $1,878,000. Sit Investment Associates Inc. owned about 1.81% of Bancroft Fund at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. LPL Financial LLC boosted its holdings in Bancroft Fund by 7.1% during the 4th quarter. LPL Financial LLC now owns 45,168 shares of the company's stock valued at $800,000 after acquiring an additional 3,012 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of Bancroft Fund by 57.2% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 55,465 shares of the company's stock valued at $982,000 after purchasing an additional 20,177 shares during the period. Raymond James Financial Inc. bought a new position in shares of Bancroft Fund in the fourth quarter worth approximately $222,000. Finally, Mezzasalma Advisors LLC bought a new position in shares of Bancroft Fund in the fourth quarter worth approximately $723,000. Hedge funds and other institutional investors own 22.43% of the company's stock.

Bancroft Fund Trading Down 0.1 %

NYSE:BCV traded down $0.02 during midday trading on Friday, reaching $15.97. 35,034 shares of the stock traded hands, compared to its average volume of 19,041. The company has a fifty day moving average of $17.80 and a 200 day moving average of $17.75. Bancroft Fund Ltd. has a 12 month low of $14.51 and a 12 month high of $18.77.

Bancroft Fund Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 17th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.02%. The ex-dividend date was Monday, March 17th.

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.