Blue Bell Private Wealth Management LLC Purchases 3,004 Shares of Bancroft Fund Ltd. (NYSE:BCV)

Blue Bell Private Wealth Management LLC raised its position in Bancroft Fund Ltd. (NYSE:BCV) by 19.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 18,690 shares of the company’s stock after acquiring an additional 3,004 shares during the period. Blue Bell Private Wealth Management LLC owned approximately 0.32% of Bancroft Fund worth $293,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its stake in shares of Bancroft Fund by 84.3% in the first quarter. Advisors Asset Management Inc. now owns 139,259 shares of the company’s stock worth $2,227,000 after purchasing an additional 63,711 shares during the last quarter. Cornerstone Advisors LLC boosted its holdings in Bancroft Fund by 89.1% during the 4th quarter. Cornerstone Advisors LLC now owns 74,803 shares of the company’s stock worth $1,195,000 after acquiring an additional 35,246 shares during the last quarter. Bulldog Investors LLP boosted its holdings in Bancroft Fund by 47.6% during the 4th quarter. Bulldog Investors LLP now owns 22,345 shares of the company’s stock worth $357,000 after acquiring an additional 7,202 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Bancroft Fund by 9.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after acquiring an additional 5,288 shares in the last quarter. Finally, Consolidated Portfolio Review Corp lifted its position in shares of Bancroft Fund by 102.5% during the first quarter. Consolidated Portfolio Review Corp now owns 58,336 shares of the company’s stock valued at $933,000 after purchasing an additional 29,532 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.

Insider Activity

In related news, insider Mario J. Gabelli sold 4,000 shares of Bancroft Fund stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $16.38, for a total transaction of $65,520.00. Following the sale, the insider now directly owns 131,000 shares in the company, valued at $2,145,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Bancroft Fund Stock Performance

Bancroft Fund stock opened at $16.20 on Friday. Bancroft Fund Ltd. has a fifty-two week low of $14.09 and a fifty-two week high of $16.65. The firm’s 50-day simple moving average is $16.10 and its 200 day simple moving average is $15.69.

Bancroft Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Stockholders of record on Monday, September 16th will be paid a $0.32 dividend. The ex-dividend date is Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.90%.

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.