Raymond James & Associates Sells 5,059 Shares of Bancroft Fund Ltd. (NYSE:BCV)

Raymond James & Associates trimmed its position in Bancroft Fund Ltd. (NYSE:BCV) by 17.7% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 23,505 shares of the company’s stock after selling 5,059 shares during the period. Raymond James & Associates owned about 0.40% of Bancroft Fund worth $376,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Advisors LLC grew its position in Bancroft Fund by 127.7% in the 3rd quarter. Cornerstone Advisors LLC now owns 39,557 shares of the company’s stock worth $624,000 after purchasing an additional 22,186 shares in the last quarter. John G Ullman & Associates Inc. bought a new stake in Bancroft Fund in the 3rd quarter worth about $287,000. Finally, AQR Arbitrage LLC grew its position in Bancroft Fund by 3.4% in the 3rd quarter. AQR Arbitrage LLC now owns 23,148 shares of the company’s stock worth $365,000 after purchasing an additional 760 shares in the last quarter. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Stock Up 0.7 %

Bancroft Fund stock opened at $15.05 on Friday. Bancroft Fund Ltd. has a twelve month low of $14.09 and a twelve month high of $18.11. The company’s 50 day moving average is $15.44.

Bancroft Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, March 21st. Stockholders of record on Thursday, March 14th were given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.50%. The ex-dividend date was Wednesday, March 13th.

Insider Activity

In other news, insider Mario J. Gabelli sold 2,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $15.90, for a total transaction of $31,800.00. Following the completion of the transaction, the insider now directly owns 137,000 shares of the company’s stock, valued at approximately $2,178,300. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

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.