Bancroft Fund (NYSE:BCV) Trading Down 0.2% – What’s Next?

Shares of Bancroft Fund Ltd. (NYSE:BCV) were down 0.2% during trading on Wednesday . The stock traded as low as $22.17 and last traded at $22.27. Approximately 6,759 shares traded hands during trading, a decline of 69% from the average daily volume of 21,792 shares. The stock had previously closed at $22.31.

Bancroft Fund Stock Down 0.2%

The stock’s fifty day simple moving average is $22.54 and its 200-day simple moving average is $21.10.

Bancroft Fund Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 30th. Investors of record on Monday, November 24th will be given a dividend of $0.35 per share. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a yield of 6.3%. The ex-dividend date of this dividend is Monday, November 24th.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Verition Fund Management LLC bought a new stake in Bancroft Fund during the third quarter worth $699,000. Bulldog Investors LLP acquired a new position in shares of Bancroft Fund during the 3rd quarter worth $863,000. Bank of America Corp DE lifted its position in shares of Bancroft Fund by 25,710.4% during the 3rd quarter. Bank of America Corp DE now owns 99,628 shares of the company’s stock worth $2,180,000 after buying an additional 99,242 shares during the last quarter. Ameriprise Financial Inc. boosted its stake in Bancroft Fund by 7.4% in the third 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 in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in Bancroft Fund by 245.0% in the third quarter. Pathstone Holdings LLC now owns 99,665 shares of the company’s stock valued at $2,181,000 after buying an additional 70,776 shares in the last quarter. 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.