Insider Selling: Bancroft Fund Ltd. (NYSE:BCV) Insider Sells 1,500 Shares of Stock

Bancroft Fund Ltd. (NYSE:BCV) insider Mario J. Gabelli sold 1,500 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $17.74, for a total value of $26,610.00. Following the completion of the sale, the insider now owns 28,000 shares in the company, valued at $496,720. This trade represents a 5.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Bancroft Fund Stock Performance

Shares of NYSE:BCV opened at $18.19 on Friday. The company’s fifty day moving average is $17.82 and its 200-day moving average is $16.74. Bancroft Fund Ltd. has a 52 week low of $14.51 and a 52 week high of $18.64.

Bancroft Fund Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 22nd will be given 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%.

Institutional Trading of Bancroft Fund

Hedge funds have recently modified their holdings of the company. Beckerman Institutional LLC acquired a new position in shares of Bancroft Fund in the 3rd quarter worth approximately $1,128,000. Cornerstone Advisors LLC boosted its stake in Bancroft Fund by 30.5% in the second 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 in the last quarter. Wolverine Asset Management LLC grew its holdings 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 purchasing an additional 22,237 shares during the last quarter. Shaker Financial Services LLC increased its stake in shares of Bancroft Fund by 23.7% in the third quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock valued at $1,408,000 after buying an additional 16,100 shares in the last quarter. Finally, 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 buying an additional 5,288 shares during the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

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.