Bancroft Fund Ltd. (NYSE:BCV) Announces Quarterly Dividend of $0.32

Bancroft Fund Ltd. (NYSE:BCV) announced a quarterly dividend on Thursday, November 16th, investing.com reports. Stockholders of record on Wednesday, November 22nd will be paid a dividend of 0.32 per share on Thursday, December 28th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.50%. The ex-dividend date of this dividend is Tuesday, November 21st.

Bancroft Fund has decreased its dividend by an average of 9.4% annually over the last three years.

Bancroft Fund Trading Up 0.4 %

NYSE BCV opened at $15.05 on Monday. Bancroft Fund has a 1 year low of $14.09 and a 1 year high of $19.22.

Insiders Place Their Bets

In other Bancroft Fund news, insider Mario J. Gabelli sold 4,000 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $14.22, for a total transaction of $56,880.00. Following the sale, the insider now directly owns 36,000 shares of the company’s stock, valued at $511,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Trading of Bancroft Fund

An institutional investor recently raised its position in Bancroft Fund stock. Ameriprise Financial Inc. raised its stake in Bancroft Fund Ltd. (NYSE:BCV) by 162.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,869 shares of the company’s stock after purchasing an additional 123,767 shares during the period. Ameriprise Financial Inc. owned 3.40% of Bancroft Fund worth $3,144,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 18.15% 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.