Mario J. Gabelli Sells 1,500 Shares of Bancroft Fund Ltd. (NYSE:BCV) Stock

Bancroft Fund Ltd. (NYSE:BCV - Get Free Report) insider Mario J. Gabelli sold 1,500 shares of the firm's stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $17.74, for a total transaction of $26,610.00. Following the transaction, the insider now owns 28,000 shares of the company's stock, valued at $496,720. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Bancroft Fund Price Performance

Shares of BCV stock traded up $0.19 during mid-day trading on Thursday, hitting $18.19. 7,307 shares of the company's stock were exchanged, compared to its average volume of 20,030. The stock has a 50-day simple moving average of $17.80 and a two-hundred day simple moving average of $16.73. Bancroft Fund Ltd. has a fifty-two week low of $14.51 and a fifty-two week high of $18.64.

Bancroft Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Friday, November 22nd will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 7.04%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BCV. Beckerman Institutional LLC acquired a new stake in shares of Bancroft Fund during the third quarter worth approximately $1,128,000. Cornerstone Advisors LLC increased its position in shares of Bancroft Fund by 30.5% in the 2nd quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company's stock worth $1,777,000 after purchasing an additional 26,489 shares during the last quarter. Wolverine Asset Management LLC raised its stake in shares of Bancroft Fund by 424.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company's stock valued at $461,000 after purchasing an additional 22,237 shares in the last quarter. Shaker Financial Services LLC lifted its position in shares of Bancroft Fund by 23.7% during the third quarter. Shaker Financial Services LLC now owns 83,989 shares of the company's stock worth $1,408,000 after purchasing an additional 16,100 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in shares of Bancroft Fund by 9.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company's stock worth $1,003,000 after purchasing an additional 5,288 shares during the last quarter. 22.43% of the stock is owned by hedge funds and other institutional investors.

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.