Bancroft Fund (NYSE:BCV) Shares Up 2% – Should You Buy?

Bancroft Fund Ltd. (NYSE:BCV)’s share price was up 2% on Wednesday . The company traded as high as $24.48 and last traded at $24.46. Approximately 15,237 shares were traded during mid-day trading, an increase of 19% from the average daily volume of 12,758 shares. The stock had previously closed at $23.98.

Bancroft Fund Stock Up 2.0%

The company has a fifty day moving average of $22.55 and a 200-day moving average of $21.86.

Bancroft Fund Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, November 24th were given a dividend of $0.35 per share. The ex-dividend date was Monday, November 24th. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 5.7%.

Insider Buying and Selling

In other Bancroft Fund news, insider Mario J. Gabelli sold 1,300 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $22.25, for a total value of $28,925.00. Following the transaction, the insider owned 25,700 shares in the company, valued at approximately $571,825. This trade represents a 4.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Bancroft Fund

Large investors have recently modified their holdings of the business. Laurel Wealth Advisors LLC lifted its stake in shares of Bancroft Fund by 1,790.0% in the second quarter. Laurel Wealth Advisors LLC now owns 3,780 shares of the company’s stock worth $71,000 after buying an additional 3,580 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Bancroft Fund by 8.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,660 shares of the company’s stock valued at $146,000 after acquiring an additional 500 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Bancroft Fund in the 2nd quarter worth approximately $136,000. Osaic Holdings Inc. lifted its stake in Bancroft Fund by 95.8% in the 2nd quarter. Osaic Holdings Inc. now owns 8,415 shares of the company’s stock worth $159,000 after purchasing an additional 4,118 shares in the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Bancroft Fund during the 3rd quarter worth approximately $206,000. Hedge funds and other institutional investors 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.