Bancroft Fund Ltd. (BCV) Insider Mario J. Gabelli Sells 1,000 Shares
Bancroft Fund Ltd. (NYSEAMERICAN:BCV) insider Mario J. Gabelli sold 1,000 shares of the firm’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $22.10, for a total transaction of $22,100.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Bancroft Fund Ltd. (NYSEAMERICAN BCV) opened at $21.99 on Thursday. Bancroft Fund Ltd. has a 12 month low of $20.56 and a 12 month high of $22.77. The firm has a market cap of $115.36, a price-to-earnings ratio of 6.25 and a beta of 0.70.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Shareholders of record on Tuesday, November 28th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.46%. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, November 27th. Bancroft Fund’s dividend payout ratio (DPR) is 32.95%.
Institutional investors have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its position in shares of Bancroft Fund by 2.6% during the second quarter. Advisory Services Network LLC now owns 5,978 shares of the financial services provider’s stock valued at $130,000 after purchasing an additional 153 shares in the last quarter. Royal Bank of Canada lifted its position in shares of Bancroft Fund by 15.5% during the second quarter. Royal Bank of Canada now owns 14,013 shares of the financial services provider’s stock valued at $303,000 after purchasing an additional 1,881 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Bancroft Fund by 12.2% during the second quarter. Wells Fargo & Company MN now owns 55,181 shares of the financial services provider’s stock valued at $1,196,000 after purchasing an additional 5,995 shares in the last quarter. First Trust Advisors LP bought a new position in shares of Bancroft Fund during the third quarter valued at about $209,000. Finally, Institute for Wealth Management LLC. bought a new position in shares of Bancroft Fund during the second quarter valued at about $231,000.
Bancroft Fund Company Profile
Bancroft Fund Ltd. (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to provide income and the potential for capital appreciation, which objectives the Fund considers to be relatively equal over the long term due to the nature of the securities in which it invests.
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