Cornerstone Advisors LLC Reduces Holdings in Bancroft Fund Ltd. (NYSE:BCV)

Cornerstone Advisors LLC trimmed its position in shares of Bancroft Fund Ltd. (NYSE:BCV - Free Report) by 43.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 64,115 shares of the company's stock after selling 49,308 shares during the quarter. Cornerstone Advisors LLC owned 1.09% of Bancroft Fund worth $1,075,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Blue Bell Private Wealth Management LLC lifted its position in shares of Bancroft Fund by 19.2% during the second quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company's stock worth $293,000 after purchasing an additional 3,004 shares during the last quarter. Wolverine Asset Management LLC raised its holdings in shares of Bancroft Fund by 424.3% in the third quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company's stock valued at $461,000 after acquiring an additional 22,237 shares in the last quarter. Consolidated Portfolio Review Corp raised its holdings in shares of Bancroft Fund by 1.3% in the third quarter. Consolidated Portfolio Review Corp now owns 52,646 shares of the company's stock valued at $883,000 after acquiring an additional 670 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Bancroft Fund by 9.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company's stock valued at $1,003,000 after acquiring an additional 5,288 shares in the last quarter. Finally, Beckerman Institutional LLC bought a new stake in shares of Bancroft Fund in the third quarter valued at about $1,128,000. 22.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Bancroft Fund news, insider Mario J. Gabelli sold 4,000 shares of the business's stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $16.38, for a total value of $65,520.00. Following the completion of the transaction, the insider now directly owns 131,000 shares in the company, valued at approximately $2,145,780. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Bancroft Fund Stock Performance

Shares of BCV stock traded down $0.02 on Friday, hitting $18.18. The stock had a trading volume of 25,547 shares, compared to its average volume of 20,168. The business has a 50 day moving average price of $17.04 and a 200 day moving average price of $16.28. Bancroft Fund Ltd. has a one year low of $14.51 and a one year high of $18.63.

Bancroft Fund Dividend Announcement

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

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.