Advisors Asset Management Inc. Reduces Position in Bancroft Fund Ltd. (NYSE:BCV)

Advisors Asset Management Inc. trimmed its holdings in shares of Bancroft Fund Ltd. (NYSE:BCV) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 145,320 shares of the company’s stock after selling 1,755 shares during the quarter. Advisors Asset Management Inc. owned 2.48% of Bancroft Fund worth $2,574,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of BCV. Mezzasalma Advisors LLC purchased a new stake in shares of Bancroft Fund during the fourth quarter worth about $723,000. Blue Bell Private Wealth Management LLC increased its position in shares of Bancroft Fund by 57.2% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 55,465 shares of the company’s stock worth $982,000 after acquiring an additional 20,177 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Bancroft Fund during the fourth quarter worth about $222,000. 22.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Mario J. Gabelli sold 1,500 shares of Bancroft Fund stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $17.74, for a total value of $26,610.00. Following the completion of the transaction, the insider now directly owns 28,000 shares in the company, valued at approximately $496,720. This trade represents a 5.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% of the company’s stock.

Bancroft Fund Stock Down 0.5 %

Shares of NYSE BCV opened at $17.97 on Friday. Bancroft Fund Ltd. has a 1 year low of $14.51 and a 1 year high of $18.77. The stock’s 50-day simple moving average is $18.17 and its 200-day simple moving average is $17.67.

Bancroft Fund Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 17th will be paid a $0.32 dividend. The ex-dividend date is Monday, March 17th. This represents a $1.28 dividend on an annualized basis and a yield of 7.12%.

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.