Bancroft Fund (NYSEAMERICAN:BCV) Stock Passes Below 200-Day Moving Average – Should You Sell?

Bancroft Fund Limited (NYSEAMERICAN:BCV)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $24.05 and traded as low as $23.88. Bancroft Fund shares last traded at $24.50, with a volume of 50,254 shares changing hands.

Bancroft Fund Price Performance

The stock has a 50-day moving average of $25.20 and a 200 day moving average of $24.05.

Bancroft Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 5.7%. The ex-dividend date was Monday, June 15th.

Hedge Funds Weigh In On Bancroft Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada lifted its holdings in shares of Bancroft Fund by 2.1% during the 1st quarter. Royal Bank of Canada now owns 36,148 shares of the financial services provider’s stock worth $779,000 after acquiring an additional 729 shares during the period. First Trust Advisors LP increased its stake in Bancroft Fund by 114.4% in the first quarter. First Trust Advisors LP now owns 25,913 shares of the financial services provider’s stock valued at $558,000 after acquiring an additional 13,827 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in Bancroft Fund by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,205 shares of the financial services provider’s stock valued at $198,000 after acquiring an additional 3,000 shares during the last quarter. Uhlmann Price Securities LLC raised its position in Bancroft Fund by 2.8% during the first quarter. Uhlmann Price Securities LLC now owns 24,189 shares of the financial services provider’s stock valued at $521,000 after purchasing an additional 670 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Bancroft Fund by 38.2% during the fourth quarter. Invesco Ltd. now owns 74,091 shares of the financial services provider’s stock worth $1,637,000 after purchasing an additional 20,495 shares during the last quarter. 22.43% of the stock is currently owned by institutional investors and hedge funds.

Bancroft Fund Company Profile

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.