John G Ullman & Associates Inc. Sells 3,866 Shares of Bancroft Fund Ltd. (NYSE:BCV)

John G Ullman & Associates Inc. trimmed its position in Bancroft Fund Ltd. (NYSE:BCV) by 4.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 92,656 shares of the company’s stock after selling 3,866 shares during the period. John G Ullman & Associates Inc.’s holdings in Bancroft Fund were worth $1,554,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Advisors Asset Management Inc. raised its stake in Bancroft Fund by 84.3% during the 1st quarter. Advisors Asset Management Inc. now owns 139,259 shares of the company’s stock valued at $2,227,000 after purchasing an additional 63,711 shares during the last quarter. Cornerstone Advisors LLC grew its position in Bancroft Fund by 30.5% during the second quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock worth $1,777,000 after buying an additional 26,489 shares in the last quarter. Shaker Financial Services LLC increased its stake in Bancroft Fund by 23.7% during the third quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock valued at $1,408,000 after acquiring an additional 16,100 shares during the period. Beckerman Institutional LLC bought a new stake in shares of Bancroft Fund in the 3rd quarter worth approximately $1,128,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bancroft Fund by 9.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after purchasing an additional 5,288 shares in the last quarter. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Trading Up 1.0 %

BCV opened at $18.27 on Thursday. The firm’s fifty day moving average price is $17.00 and its two-hundred day moving average price is $16.27. Bancroft Fund Ltd. has a fifty-two week low of $14.51 and a fifty-two week high of $18.41.

Bancroft Fund Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.32 per share. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $1.28 annualized dividend and a yield of 7.01%.

Insider Buying and Selling at Bancroft Fund

In related news, insider Mario J. Gabelli sold 4,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $16.38, for a total transaction of $65,520.00. Following the transaction, the insider now owns 131,000 shares in the company, valued at $2,145,780. This represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.