Bancroft Fund (NYSEAMERICAN:BCV) Stock Crosses Below 200-Day Moving Average – Should You Sell?

Bancroft Fund Limited (NYSEAMERICAN:BCV)’s share price 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 changing hands.

Bancroft Fund Stock Performance

The stock’s 50 day moving average price is $22.84 and its two-hundred day moving average price is $22.66.

Bancroft Fund Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th were given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 6.5%. The ex-dividend date was Tuesday, March 17th.

Insiders Place Their Bets

In other Bancroft Fund news, insider Mario J. Gabelli sold 1,300 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $571,825. This trade represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Bancroft Fund

A number of institutional investors and hedge funds have recently modified their holdings of BCV. PNC Financial Services Group Inc. raised its holdings in Bancroft Fund by 8.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,660 shares of the financial services provider’s stock worth $146,000 after purchasing an additional 500 shares during the last quarter. Mezzasalma Advisors LLC grew its holdings in Bancroft Fund by 1.3% in the fourth quarter. Mezzasalma Advisors LLC now owns 39,356 shares of the financial services provider’s stock valued at $866,000 after purchasing an additional 524 shares during the last quarter. Royal Bank of Canada increased its position in shares of Bancroft Fund by 2.0% in the first quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock valued at $735,000 after buying an additional 807 shares in the last quarter. Uhlmann Price Securities LLC increased its position in shares of Bancroft Fund by 3.8% in the third quarter. Uhlmann Price Securities LLC now owns 23,152 shares of the financial services provider’s stock valued at $507,000 after buying an additional 856 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Bancroft Fund by 5.0% during the 2nd 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. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Company Profile

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.