Bancroft Fund Ltd. (NYSE:BCV) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC decreased its position in shares of Bancroft Fund Ltd. (NYSE:BCV - Free Report) by 51.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,426 shares of the company's stock after selling 32,689 shares during the quarter. Cornerstone Advisors LLC owned approximately 0.54% of Bancroft Fund worth $557,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Bancroft Fund during the fourth quarter worth about $222,000. Wolverine Asset Management LLC boosted its stake in shares of Bancroft Fund by 424.3% during the third quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company's stock worth $461,000 after buying an additional 22,237 shares during the period. Mezzasalma Advisors LLC acquired a new stake in shares of Bancroft Fund during the fourth quarter worth about $723,000. Finally, 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 worth $982,000 after buying an additional 20,177 shares during the period. Hedge funds and other institutional investors own 22.43% of the company's stock.

Insider Transactions at Bancroft Fund

In related news, insider Mario J. Gabelli sold 1,500 shares of the 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 completion of the transaction, the insider now directly owns 28,000 shares of the company's stock, valued at $496,720. This represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 3.60% of the company's stock.

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Bancroft Fund Price Performance

Shares of BCV traded up $0.05 during mid-day trading on Friday, hitting $17.67. 3,157 shares of the company's stock were exchanged, compared to its average volume of 18,066. Bancroft Fund Ltd. has a fifty-two week low of $14.51 and a fifty-two week high of $18.77. The business's 50 day moving average is $18.21 and its two-hundred day moving average is $17.61.

Bancroft Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 7.25%.

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.