Bancroft Fund Ltd. (NYSE:BCV) Raises Dividend to $0.35 Per Share

Bancroft Fund Ltd. (NYSE:BCV) declared a quarterly dividend on Wednesday, November 12th. Investors of record on Monday, November 24th will be given a dividend of 0.35 per share on Tuesday, December 30th. This represents a c) annualized dividend and a yield of 6.1%. The ex-dividend date is Monday, November 24th. This is a 9.4% increase from Bancroft Fund’s previous quarterly dividend of $0.32.

Bancroft Fund Trading Down 2.5%

Shares of BCV stock opened at $22.97 on Thursday. Bancroft Fund has a 12 month low of $15.63 and a 12 month high of $23.88. The stock has a 50-day moving average price of $22.58 and a 200 day moving average price of $20.20.

Hedge Funds Weigh In On Bancroft Fund

Several large investors have recently bought and sold shares of the business. Beckerman Institutional LLC grew its holdings in Bancroft Fund by 13.4% during the 1st quarter. Beckerman Institutional LLC now owns 75,763 shares of the company’s stock worth $1,319,000 after acquiring an additional 8,954 shares during the period. Blue Bell Private Wealth Management LLC boosted its position in shares of Bancroft Fund by 11.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 61,943 shares of the company’s stock worth $1,079,000 after purchasing an additional 6,478 shares during the last quarter. Invesco Ltd. acquired a new stake in shares of Bancroft Fund during the first quarter worth $228,000. Sit Investment Associates Inc. increased its holdings in Bancroft Fund by 166.9% in the first quarter. Sit Investment Associates Inc. now owns 283,072 shares of the company’s stock valued at $4,930,000 after purchasing an additional 177,016 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Bancroft Fund by 2.0% in the first quarter. Royal Bank of Canada now owns 42,161 shares of the company’s stock valued at $735,000 after buying an additional 807 shares during the period. 22.43% of the stock is currently owned by institutional investors and hedge funds.

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.