Insider Selling: Bancroft Fund Ltd. (NYSE:BCV) Insider Sells 1,500 Shares of Stock

Bancroft Fund Ltd. (NYSE:BCV) insider Mario J. Gabelli sold 1,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $17.74, for a total transaction of $26,610.00. Following the transaction, the insider now owns 28,000 shares in the company, valued at approximately $496,720. This trade represents a 5.08 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Bancroft Fund Trading Up 0.3 %

Shares of BCV stock opened at $18.24 on Friday. Bancroft Fund Ltd. has a 1 year low of $14.51 and a 1 year high of $18.64. The firm’s 50 day moving average is $17.84 and its 200-day moving average is $16.76.

Bancroft Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 7.02%. The ex-dividend date of this dividend is Friday, November 22nd.

Hedge Funds Weigh In On Bancroft Fund

Several large investors have recently made changes to their positions in BCV. Blue Bell Private Wealth Management LLC grew its position in shares of Bancroft Fund by 19.2% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock worth $293,000 after buying an additional 3,004 shares during the period. Wolverine Asset Management LLC boosted its stake in Bancroft Fund by 424.3% in the third quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company’s stock valued at $461,000 after acquiring an additional 22,237 shares during the last quarter. Consolidated Portfolio Review Corp grew its holdings in Bancroft Fund by 1.3% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 52,646 shares of the company’s stock worth $883,000 after acquiring an additional 670 shares during the period. Cambridge Investment Research Advisors Inc. raised its position 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 valued at $1,003,000 after acquiring an additional 5,288 shares during the last quarter. Finally, Beckerman Institutional LLC acquired a new position in shares of Bancroft Fund in the 3rd quarter valued at $1,128,000. Institutional investors and hedge funds own 22.43% 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.