Bancroft Fund Ltd. (NYSEAMERICAN:BCV) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 400 shares, a decline of 89.7% from the August 15th total of 3,900 shares. Based on an average daily trading volume, of 18,600 shares, the short-interest ratio is presently 0.0 days.
In other Bancroft Fund news, insider Mario J. Gabelli sold 2,000 shares of the business’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $31.06, for a total transaction of $62,120.00. Following the completion of the sale, the insider now directly owns 124,495 shares in the company, valued at approximately $3,866,814.70. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.20% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the company. Morgan Stanley boosted its holdings in Bancroft Fund by 2.4% in the 2nd quarter. Morgan Stanley now owns 157,789 shares of the financial services provider’s stock worth $5,052,000 after buying an additional 3,711 shares during the period. Bank of America Corp DE boosted its holdings in Bancroft Fund by 74.2% in the 2nd quarter. Bank of America Corp DE now owns 2,235 shares of the financial services provider’s stock worth $72,000 after buying an additional 952 shares during the period. Royal Bank of Canada boosted its holdings in Bancroft Fund by 1.5% in the 2nd quarter. Royal Bank of Canada now owns 54,250 shares of the financial services provider’s stock worth $1,737,000 after buying an additional 780 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Bancroft Fund by 21.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 219,178 shares of the financial services provider’s stock worth $7,018,000 after buying an additional 39,272 shares during the period. Finally, Baird Financial Group Inc. bought a new position in Bancroft Fund in the 2nd quarter worth $200,000. Hedge funds and other institutional investors own 23.76% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 23rd. Stockholders of record on Thursday, September 16th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, September 15th. This represents a $1.28 annualized dividend and a dividend yield of 4.21%.
Bancroft Fund Company Profile
Bancroft Fund Ltd. (NYSE MKT: BCV) operates as a closed-end, diversified management company and invests primarily in convertible securities with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.
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