Cambridge Investment Research Advisors Inc. grew its holdings in shares of Bancroft Fund Ltd. (NYSEAMERICAN:BCV – Get Rating) by 16.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 47,672 shares of the financial services provider’s stock after acquiring an additional 6,736 shares during the period. Cambridge Investment Research Advisors Inc. owned 0.81% of Bancroft Fund worth $781,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Shaker Financial Services LLC grew its holdings in Bancroft Fund by 111.2% in the third quarter. Shaker Financial Services LLC now owns 68,490 shares of the financial services provider’s stock worth $1,145,000 after purchasing an additional 36,055 shares during the period. Koshinski Asset Management Inc. bought a new stake in Bancroft Fund in the 4th quarter valued at about $391,000. UBS Group AG increased its position in Bancroft Fund by 88.2% in the 3rd quarter. UBS Group AG now owns 43,565 shares of the financial services provider’s stock valued at $728,000 after buying an additional 20,418 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in Bancroft Fund during the 1st quarter worth approximately $254,000. Finally, NewEdge Advisors LLC boosted its holdings in Bancroft Fund by 25.3% in the first quarter. NewEdge Advisors LLC now owns 30,200 shares of the financial services provider’s stock worth $688,000 after acquiring an additional 6,100 shares in the last quarter. 17.75% of the stock is owned by institutional investors.
Insiders Place Their Bets
In related news, insider Mario J. Gabelli sold 12,000 shares of the firm’s stock in a transaction dated Friday, April 14th. The shares were sold at an average price of $16.58, for a total value of $198,960.00. Following the transaction, the insider now owns 45,000 shares of the company’s stock, valued at approximately $746,100. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.10% of the company’s stock.
Bancroft Fund Trading Down 1.3 %
Bancroft Fund Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 17th were issued a dividend of $0.32 per share. The ex-dividend date was Thursday, March 16th. This represents a $1.28 annualized dividend and a yield of 7.88%.
About Bancroft Fund
Bancroft Fund Ltd. (NYSE MKT: BCV) operates as a closed-end, diversified management company and invests primarily in convertible securities with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.
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