Bancroft Fund (NYSE:BCV) Trading Down 0.2% – What’s Next?

Bancroft Fund Ltd. (NYSE:BCV)’s share price dropped 0.2% during trading on Wednesday . The stock traded as low as $22.17 and last traded at $22.27. Approximately 6,759 shares traded hands during trading, a decline of 69% from the average daily volume of 21,792 shares. The stock had previously closed at $22.31.

Bancroft Fund Stock Down 0.2%

The business has a 50 day simple moving average of $22.54 and a 200-day simple moving average of $21.10.

Bancroft Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, November 24th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date of this dividend is Monday, November 24th. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.32.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Invesco Ltd. bought a new stake in shares of Bancroft Fund during the first quarter worth $228,000. Royal Bank of Canada increased its holdings in Bancroft Fund by 2.0% during the 1st quarter. Royal Bank of Canada now owns 42,161 shares of the company’s stock worth $735,000 after purchasing an additional 807 shares in the last quarter. Mezzasalma Advisors LLC increased its holdings in Bancroft Fund by 1.4% during the 2nd quarter. Mezzasalma Advisors LLC now owns 40,842 shares of the company’s stock worth $772,000 after purchasing an additional 553 shares in the last quarter. Uhlmann Price Securities LLC raised its stake in shares of Bancroft Fund by 13.5% in the 2nd quarter. Uhlmann Price Securities LLC now owns 22,296 shares of the company’s stock valued at $421,000 after purchasing an additional 2,649 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Bancroft Fund by 26.7% in the second quarter. Envestnet Asset Management Inc. now owns 19,773 shares of the company’s stock valued at $374,000 after purchasing an additional 4,164 shares in the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Company Profile

The Bancroft Fund (NYSE:BCV) is a closed-end management investment company that seeks to provide total return through both current income and capital appreciation. Established as a publicly traded fund, Bancroft offers investors access to a diversified portfolio of income-oriented securities, with a particular emphasis on funds that themselves invest in dividend-paying and other cash-flow assets.

To pursue its investment objective, the Fund allocates principally to shares of registered investment companies, including other closed-end funds and exchange-traded funds.