Advisors Asset Management Inc. Sells 1,265 Shares of Bancroft Fund Ltd. (NYSE:BCV)

Advisors Asset Management Inc. trimmed its holdings in shares of Bancroft Fund Ltd. (NYSE:BCV) by 0.9% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 147,075 shares of the company’s stock after selling 1,265 shares during the period. Advisors Asset Management Inc. owned approximately 2.50% of Bancroft Fund worth $2,466,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of BCV. Beckerman Institutional LLC bought a new position in Bancroft Fund during the third quarter worth $1,128,000. Cornerstone Advisors LLC grew its stake in shares of Bancroft Fund by 30.5% in the 2nd quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock valued at $1,777,000 after buying an additional 26,489 shares during the period. Wolverine Asset Management LLC increased its position in Bancroft Fund by 424.3% in the 3rd quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company’s stock valued at $461,000 after buying an additional 22,237 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in Bancroft Fund by 19.2% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 18,690 shares of the company’s stock worth $293,000 after buying an additional 3,004 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Bancroft Fund by 9.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock worth $1,003,000 after acquiring an additional 5,288 shares in the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $16.38, for a total transaction of $65,520.00. Following the completion of the sale, the insider now directly owns 131,000 shares of the company’s stock, valued at $2,145,780. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.10% of the company’s stock.

Bancroft Fund Stock Performance

NYSE BCV opened at $18.13 on Friday. Bancroft Fund Ltd. has a 52 week low of $14.51 and a 52 week high of $18.63. The business has a 50 day moving average price of $17.08 and a 200-day moving average price of $16.31.

Bancroft Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Shareholders of record on Friday, November 22nd will be paid a dividend of $0.32 per share. The ex-dividend date is Friday, November 22nd. This represents a $1.28 dividend on an annualized basis and a yield of 7.06%.

Bancroft Fund 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.