Advisors Asset Management Inc. Lowers Position in Bancroft Fund Ltd. $BCV

Advisors Asset Management Inc. trimmed its position in shares of Bancroft Fund Ltd. (NYSE:BCV) by 61.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 56,498 shares of the company’s stock after selling 88,509 shares during the quarter. Advisors Asset Management Inc.’s holdings in Bancroft Fund were worth $1,236,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Laurel Wealth Advisors LLC lifted its stake in shares of Bancroft Fund by 1,790.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,780 shares of the company’s stock valued at $71,000 after purchasing an additional 3,580 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Bancroft Fund during the 2nd quarter valued at $136,000. Osaic Holdings Inc. boosted its holdings in shares of Bancroft Fund by 95.8% during the 2nd quarter. Osaic Holdings Inc. now owns 8,415 shares of the company’s stock valued at $159,000 after buying an additional 4,118 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in shares of Bancroft Fund in the 2nd quarter worth about $239,000. Finally, Cetera Investment Advisers increased its stake in shares of Bancroft Fund by 5.0% in the 2nd quarter. Cetera Investment Advisers now owns 18,946 shares of the company’s stock worth $358,000 after acquiring an additional 900 shares in the last quarter. Institutional investors own 22.43% of the company’s stock.

Insider Activity at Bancroft Fund

In related news, insider Mario J. Gabelli sold 1,300 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was 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 $571,825. This trade represents a 4.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

Bancroft Fund Price Performance

Shares of NYSE BCV opened at $23.40 on Tuesday. Bancroft Fund Ltd. has a 1 year low of $15.63 and a 1 year high of $24.55. The firm has a 50-day moving average of $22.98 and a 200 day moving average of $22.24.

Bancroft Fund Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Tuesday, March 17th.

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.