Bancroft Fund Ltd. (NYSE:BCV) Shares Sold by Cornerstone Advisors LLC

Cornerstone Advisors LLC lowered its stake in Bancroft Fund Ltd. (NYSE:BCV) by 51.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,426 shares of the company’s stock after selling 32,689 shares during the period. Cornerstone Advisors LLC owned about 0.54% of Bancroft Fund worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BCV. Wolverine Asset Management LLC grew its stake in shares of 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 purchasing an additional 22,237 shares during the last quarter. Mezzasalma Advisors LLC acquired a new position in shares of Bancroft Fund in the fourth quarter worth $723,000. Raymond James Financial Inc. acquired a new position in Bancroft Fund in the fourth quarter valued at $222,000. Finally, Blue Bell Private Wealth Management LLC grew its position in 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 valued at $982,000 after acquiring an additional 20,177 shares during the period. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Stock Down 1.2 %

Shares of NYSE BCV opened at $17.65 on Tuesday. Bancroft Fund Ltd. has a 1-year low of $14.51 and a 1-year high of $18.77. The business has a 50-day moving average of $18.21 and a 200-day moving average of $17.60.

Bancroft Fund Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 7.25%. The ex-dividend date is Monday, March 17th.

Insider Buying and Selling

In other news, insider Mario J. Gabelli sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $17.74, for a total value of $26,610.00. Following the completion of the sale, the insider now directly owns 28,000 shares of the company’s stock, valued at $496,720. This 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 can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

About Bancroft Fund

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.