Advisors Asset Management Inc. Sells 88,509 Shares of Bancroft Fund Ltd. $BCV

Advisors Asset Management Inc. lessened its stake in shares of Bancroft Fund Ltd. (NYSE:BCV) by 61.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,498 shares of the company’s stock after selling 88,509 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.96% of Bancroft Fund worth $1,236,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Shaker Financial Services LLC bought a new stake in Bancroft Fund during the 3rd quarter valued at $767,000. Blue Bell Private Wealth Management LLC raised its stake in shares of Bancroft Fund by 23.0% during the third quarter. Blue Bell Private Wealth Management LLC now owns 80,279 shares of the company’s stock valued at $1,757,000 after acquiring an additional 15,029 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of Bancroft Fund by 95.8% during the second quarter. Osaic Holdings Inc. now owns 8,415 shares of the company’s stock worth $159,000 after purchasing an additional 4,118 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Bancroft Fund by 32.8% in the second quarter. Ameriprise Financial Inc. now owns 285,799 shares of the company’s stock worth $5,403,000 after purchasing an additional 70,606 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Bancroft Fund during the 2nd quarter valued at about $136,000. 22.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Bancroft Fund Stock Down 0.6%

BCV opened at $23.40 on Tuesday. Bancroft Fund Ltd. has a one year low of $15.63 and a one year high of $24.55. The business has a 50 day simple moving average of $22.98 and a two-hundred day simple moving average of $22.24.

Bancroft Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 24th. Investors of record on Tuesday, March 17th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.40 dividend on an annualized basis and a yield of 6.0%.

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.