Bancroft Fund Ltd. Declares Quarterly Dividend of $0.32 (NYSE:BCV)

Bancroft Fund Ltd. (NYSE:BCV) declared a quarterly dividend on Friday, August 23rd, NASDAQ reports. Shareholders of record on Monday, September 16th will be given a dividend of 0.32 per share on Monday, September 23rd. This represents a $1.28 dividend on an annualized basis and a yield of 7.76%. The ex-dividend date is Monday, September 16th.

Bancroft Fund has decreased its dividend by an average of 25.7% per year over the last three years.

Bancroft Fund Trading Up 1.2 %

NYSE:BCV opened at $16.50 on Friday. Bancroft Fund has a one year low of $14.09 and a one year high of $16.65. The business’s 50-day simple moving average is $16.16 and its 200 day simple moving average is $15.72.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $16.38, for a total transaction of $65,520.00. Following the completion of the transaction, the insider now directly owns 131,000 shares in the company, valued at approximately $2,145,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.10% of the stock is owned by company insiders.

Bancroft Fund Company Profile

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.