Bancroft Fund (NYSEAMERICAN:BCV) Shares Pass Below 200-Day Moving Average – Time to Sell?

Bancroft Fund Limited (NYSEAMERICAN:BCV) shares crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $22.67 and traded as low as $21.39. Bancroft Fund shares last traded at $22.03, with a volume of 13,197 shares trading hands.

Bancroft Fund Price Performance

The business has a 50-day moving average of $22.88 and a 200 day moving average of $22.67.

Bancroft Fund Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 6.4%. The ex-dividend date of this dividend was Tuesday, March 17th.

Insider Activity at Bancroft Fund

In other news, insider Mario J. Gabelli sold 1,300 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $22.25, for a total transaction of $28,925.00. Following the transaction, the insider directly owned 25,700 shares of the company’s stock, valued at $571,825. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Bancroft Fund

Hedge funds have recently bought and sold shares of the business. Royal Bank of Canada increased its stake in Bancroft Fund by 2.0% during the 1st quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 807 shares in the last quarter. Cetera Investment Advisers raised its holdings in Bancroft Fund by 5.0% during the second quarter. Cetera Investment Advisers now owns 18,946 shares of the financial services provider’s stock worth $358,000 after buying an additional 900 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Bancroft Fund by 141.4% in the second quarter. Invesco Ltd. now owns 31,618 shares of the financial services provider’s stock valued at $598,000 after buying an additional 18,522 shares in the last quarter. Guggenheim Capital LLC lifted its stake in shares of Bancroft Fund by 29.2% in the second quarter. Guggenheim Capital LLC now owns 78,810 shares of the financial services provider’s stock valued at $1,490,000 after buying an additional 17,794 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Bancroft Fund during the second quarter valued at about $136,000. Institutional investors and hedge funds own 22.43% of the company’s stock.

About Bancroft Fund

Bancroft Fund, Inc (NYSE American: BCV) is a closed-end management investment company that seeks long-term growth of capital. Shares of the Fund trade on the NYSE American exchange, providing investors with access to a diversified portfolio of U.S. equity securities under a closed-end structure. The Fund’s board of directors oversees a disciplined investment process governed by a stated strategy and risk parameters.

The Fund’s primary investment objective is capital appreciation. To pursue this goal, Bancroft Fund allocates at least 80% of its total assets to equity securities of U.S.