Cornerstone Advisors LLC Has $1.78 Million Stock Position in Bancroft Fund Ltd. (NYSE:BCV)

Cornerstone Advisors LLC raised its holdings in Bancroft Fund Ltd. (NYSE:BCV) by 30.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 113,423 shares of the company’s stock after acquiring an additional 26,489 shares during the quarter. Cornerstone Advisors LLC’s holdings in Bancroft Fund were worth $1,777,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BCV. Blue Bell Private Wealth Management LLC increased its position in Bancroft Fund by 19.2% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock valued at $293,000 after acquiring an additional 3,004 shares during the period. Bulldog Investors LLP increased its position in shares of Bancroft Fund by 47.6% during the fourth quarter. Bulldog Investors LLP now owns 22,345 shares of the company’s stock worth $357,000 after buying an additional 7,202 shares during the period. Consolidated Portfolio Review Corp increased its position in shares of Bancroft Fund by 102.5% during the first quarter. Consolidated Portfolio Review Corp now owns 58,336 shares of the company’s stock worth $933,000 after buying an additional 29,532 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of Bancroft Fund by 9.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after buying an additional 5,288 shares during the period. Finally, John G Ullman & Associates Inc. increased its position in shares of Bancroft Fund by 9.0% during the first quarter. John G Ullman & Associates Inc. now owns 101,122 shares of the company’s stock worth $1,617,000 after buying an additional 8,350 shares during the period. 22.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Bancroft Fund

In other Bancroft Fund news, insider Mario J. Gabelli sold 4,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $16.38, for a total value of $65,520.00. Following the transaction, the insider now directly owns 131,000 shares of the company’s stock, valued at $2,145,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

Bancroft Fund Trading Down 1.1 %

BCV opened at $16.33 on Tuesday. Bancroft Fund Ltd. has a twelve month low of $14.09 and a twelve month high of $16.65. The company has a fifty day moving average of $16.17 and a 200-day moving average of $15.73.

Bancroft Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 16th will be paid a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.84%. The ex-dividend date is Monday, September 16th.

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.