Insider Selling: Bancroft Fund (NYSE:BCV) Insider Sells $28,925.00 in Stock

Bancroft Fund Ltd. (NYSE:BCV) insider Mario Gabelli sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.25, for a total transaction of $28,925.00. Following the completion of the transaction, the insider owned 25,700 shares of the company’s stock, valued at approximately $571,825. This trade represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Bancroft Fund Trading Up 2.2%

NYSE:BCV opened at $23.13 on Friday. Bancroft Fund Ltd. has a one year low of $15.63 and a one year high of $23.88. The firm’s 50 day simple moving average is $22.30 and its 200 day simple moving average is $21.41.

Bancroft Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 30th. Investors of record on Monday, November 24th were paid a $0.35 dividend. 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 6.1%. The ex-dividend date of this dividend was Monday, November 24th.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Ameriprise Financial Inc. grew its position in shares of Bancroft Fund by 7.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 306,950 shares of the company’s stock valued at $6,717,000 after buying an additional 21,151 shares during the last quarter. Pathstone Holdings LLC lifted its stake in shares of Bancroft Fund by 245.0% in the third quarter. Pathstone Holdings LLC now owns 99,665 shares of the company’s stock worth $2,181,000 after acquiring an additional 70,776 shares during the period. Bank of America Corp DE boosted its holdings in Bancroft Fund by 25,710.4% in the third quarter. Bank of America Corp DE now owns 99,628 shares of the company’s stock valued at $2,180,000 after acquiring an additional 99,242 shares during the last quarter. Blue Bell Private Wealth Management LLC increased its position in Bancroft Fund by 23.0% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 80,279 shares of the company’s stock valued at $1,757,000 after purchasing an additional 15,029 shares during the period. Finally, Guggenheim Capital LLC increased its position in Bancroft Fund by 29.2% during the 2nd quarter. Guggenheim Capital LLC now owns 78,810 shares of the company’s stock valued at $1,490,000 after purchasing an additional 17,794 shares during the period. 22.43% of the stock is owned by institutional investors.

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.