Bancroft Fund (NYSEAMERICAN:BCV) Shares Pass Below 200-Day Moving Average – Here’s Why

Bancroft Fund Limited (NYSEAMERICAN:BCV) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.56 and traded as low as $22.17. Bancroft Fund shares last traded at $22.48, with a volume of 2,336 shares trading hands.

Bancroft Fund Trading Down 1.2%

The business’s fifty day moving average is $23.22 and its 200 day moving average is $22.58.

Bancroft Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.40 annualized dividend and a dividend yield of 6.3%.

Insider Buying and Selling at Bancroft Fund

In related news, insider Mario J. Gabelli sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.25, for a total value of $28,925.00. Following the completion of the transaction, the insider directly owned 25,700 shares of the company’s stock, valued at $571,825. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Bancroft Fund

Institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of Bancroft Fund by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,660 shares of the financial services provider’s stock valued at $146,000 after buying an additional 500 shares in the last quarter. Mezzasalma Advisors LLC boosted its position in shares of Bancroft Fund by 1.3% in the 4th quarter. Mezzasalma Advisors LLC now owns 39,356 shares of the financial services provider’s stock worth $866,000 after buying an additional 524 shares in the last quarter. Royal Bank of Canada grew its stake in Bancroft Fund by 2.0% in the 1st quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock valued at $735,000 after acquiring an additional 807 shares during the last quarter. Uhlmann Price Securities LLC grew its stake in Bancroft Fund by 3.8% in the 3rd quarter. Uhlmann Price Securities LLC now owns 23,152 shares of the financial services provider’s stock valued at $507,000 after acquiring an additional 856 shares during the last quarter. Finally, Cetera Investment Advisers increased its holdings in Bancroft Fund by 5.0% during the 2nd quarter. Cetera Investment Advisers now owns 18,946 shares of the financial services provider’s stock valued at $358,000 after acquiring an additional 900 shares in the last quarter. 22.43% of the stock is currently owned by hedge funds and other institutional investors.

About Bancroft Fund

Bancroft Fund, Inc (NYSE American: BCV) is a closed-end management investment company that seeks long-term growth of capital. Shares of the Fund trade on the NYSE American exchange, providing investors with access to a diversified portfolio of U.S. equity securities under a closed-end structure. The Fund’s board of directors oversees a disciplined investment process governed by a stated strategy and risk parameters.

The Fund’s primary investment objective is capital appreciation. To pursue this goal, Bancroft Fund allocates at least 80% of its total assets to equity securities of U.S.