Bancroft Fund Ltd. (NYSE:BCV) Announces Quarterly Dividend of $0.32

Bancroft Fund Ltd. (NYSE:BCV) declared a quarterly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Shareholders of record on Friday, November 22nd will be paid a dividend of 0.32 per share on Monday, December 30th. This represents a $1.28 dividend on an annualized basis and a yield of 7.16%. The ex-dividend date of this dividend is Friday, November 22nd.

Bancroft Fund has decreased its dividend payment by an average of 25.7% annually over the last three years.

Bancroft Fund Trading Down 0.4 %

NYSE:BCV opened at $17.87 on Friday. Bancroft Fund has a fifty-two week low of $14.51 and a fifty-two week high of $18.41. The business’s 50-day simple moving average is $16.82 and its 200-day simple moving average is $16.17.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 4,000 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $16.38, for a total transaction of $65,520.00. Following the completion of the sale, the insider now directly owns 131,000 shares in the company, valued at approximately $2,145,780. This represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 4.10% 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.