Bancroft Fund Limited (NYSEAMERICAN:BCV) Short Interest Update

Bancroft Fund Limited (NYSEAMERICAN:BCV) was the recipient of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 6,832 shares, a growth of 375.1% from the February 26th total of 1,438 shares. Based on an average daily volume of 8,405 shares, the short-interest ratio is currently 0.8 days. Currently, 0.1% of the shares of the stock are short sold.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.25, for a total value of $28,925.00. Following the sale, the insider directly owned 25,700 shares in the company, valued at approximately $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 accessible through this hyperlink. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Caldwell Trust Co bought a new stake in shares of Bancroft Fund in the 4th quarter valued at about $55,000. Laurel Wealth Advisors LLC lifted its stake in shares of Bancroft Fund by 1,790.0% in the second quarter. Laurel Wealth Advisors LLC now owns 3,780 shares of the financial services provider’s stock worth $71,000 after acquiring an additional 3,580 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Bancroft Fund in the second quarter worth approximately $136,000. PNC Financial Services Group Inc. boosted its holdings in 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 acquiring an additional 500 shares during the last quarter. Finally, Osaic Holdings Inc. boosted its holdings in Bancroft Fund by 95.8% in the second quarter. Osaic Holdings Inc. now owns 8,415 shares of the financial services provider’s stock valued at $159,000 after acquiring an additional 4,118 shares during the last quarter. 22.43% of the stock is owned by institutional investors and hedge funds.

Bancroft Fund Stock Down 4.6%

NYSEAMERICAN:BCV traded down $1.03 during mid-day trading on Thursday, hitting $21.42. 7,149 shares of the company’s stock were exchanged, compared to its average volume of 11,823. Bancroft Fund has a fifty-two week low of $15.63 and a fifty-two week high of $24.55. The company has a 50 day simple moving average of $23.05 and a 200-day simple moving average of $22.65.

Bancroft Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th were paid a $0.35 dividend. The ex-dividend date of this dividend was Tuesday, March 17th. This represents a $1.40 annualized dividend and a dividend yield of 6.5%.

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.