Insider Selling: Bancroft Fund Ltd. (NYSEAMERICAN:BCV) Insider Sells 1,000 Shares of Stock

Bancroft Fund Ltd. (NYSEAMERICAN:BCV) insider Mario J. Gabelli sold 1,000 shares of the company’s stock in a transaction on Friday, January 5th. The shares were sold at an average price of $22.10, for a total value of $22,100.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Bancroft Fund Ltd. (BCV) traded up $0.19 during trading on Tuesday, reaching $22.26. The company had a trading volume of 13,700 shares, compared to its average volume of 8,200. The stock has a market capitalization of $116.88, a PE ratio of 6.32 and a beta of 0.70. Bancroft Fund Ltd. has a 12 month low of $20.56 and a 12 month high of $22.77.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Tuesday, November 28th were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 7.37%. The ex-dividend date of this dividend was Monday, November 27th. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.25. Bancroft Fund’s dividend payout ratio is 32.95%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. increased its position in Bancroft Fund by 28.8% in the third quarter. Advisors Asset Management Inc. now owns 203,460 shares of the financial services provider’s stock worth $4,454,000 after buying an additional 45,487 shares in the last quarter. Wells Fargo & Company MN increased its position in Bancroft Fund by 12.2% in the second quarter. Wells Fargo & Company MN now owns 55,181 shares of the financial services provider’s stock worth $1,196,000 after buying an additional 5,995 shares in the last quarter. Royal Bank of Canada increased its position in Bancroft Fund by 15.5% in the second quarter. Royal Bank of Canada now owns 14,013 shares of the financial services provider’s stock worth $303,000 after buying an additional 1,881 shares in the last quarter. Institute for Wealth Management LLC. purchased a new stake in Bancroft Fund in the second quarter worth about $231,000. Finally, First Trust Advisors LP purchased a new stake in Bancroft Fund in the third quarter worth about $209,000.

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Bancroft Fund Company Profile

Bancroft Fund Ltd. (the Fund) is a diversified closed-end management investment company. The Fund’s primary investment objective is to provide income and the potential for capital appreciation, which objectives the Fund considers to be relatively equal over the long term due to the nature of the securities in which it invests.

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