Sit Investment Associates Inc. Sells 29,269 Shares of Bancroft Fund Limited $BCV

Sit Investment Associates Inc. cut its stake in shares of Bancroft Fund Limited (NYSEAMERICAN:BCV) by 10.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 255,169 shares of the financial services provider’s stock after selling 29,269 shares during the period. Sit Investment Associates Inc. owned about 4.35% of Bancroft Fund worth $5,639,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Bank of America Corp DE raised its position in Bancroft Fund by 25,710.4% in the third quarter. Bank of America Corp DE now owns 99,628 shares of the financial services provider’s stock valued at $2,180,000 after purchasing an additional 99,242 shares during the last quarter. Pathstone Holdings LLC increased its stake in shares of Bancroft Fund by 245.0% in the third quarter. Pathstone Holdings LLC now owns 99,665 shares of the financial services provider’s stock valued at $2,181,000 after buying an additional 70,776 shares during the period. Ameriprise Financial Inc. raised its holdings in Bancroft Fund by 32.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the financial services provider’s stock valued at $5,403,000 after buying an additional 70,606 shares during the last quarter. Saba Capital Management L.P. boosted its position in Bancroft Fund by 14.9% during the 4th quarter. Saba Capital Management L.P. now owns 361,294 shares of the financial services provider’s stock worth $7,985,000 after buying an additional 46,755 shares during the period. Finally, Bulldog Investors LLP bought a new stake in Bancroft Fund during the 3rd quarter worth approximately $863,000. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Price Performance

BCV stock opened at $26.07 on Friday. The company has a fifty day moving average price of $25.01 and a 200-day moving average price of $23.50. Bancroft Fund Limited has a 52-week low of $18.11 and a 52-week high of $27.33.

Bancroft Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date is Monday, June 15th.

Bancroft Fund 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.