Bancroft Fund (NYSEAMERICAN:BCV) Share Price Passes Above 50-Day Moving Average – Here’s Why

Shares of Bancroft Fund Limited (NYSEAMERICAN:BCV) passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $25.27 and traded as high as $25.80. Bancroft Fund shares last traded at $25.65, with a volume of 6,219 shares traded.

Bancroft Fund Stock Up 1.0%

The company has a fifty day simple moving average of $25.27 and a two-hundred day simple moving average of $23.65.

Bancroft Fund Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Monday, June 15th were given a $0.35 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 5.5%.

Hedge Funds Weigh In On Bancroft Fund

Several institutional investors have recently added to or reduced their stakes in BCV. Royal Bank of Canada lifted its position in Bancroft Fund by 2.0% during the first quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock worth $735,000 after buying an additional 807 shares during the period. Cetera Investment Advisers boosted its stake in Bancroft Fund by 5.0% in 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. Invesco Ltd. grew its holdings in Bancroft Fund by 141.4% in the 2nd quarter. Invesco Ltd. now owns 31,618 shares of the financial services provider’s stock valued at $598,000 after buying an additional 18,522 shares during the period. Raymond James Financial Inc. purchased a new stake in Bancroft Fund in the 2nd quarter valued at about $136,000. Finally, Ameriprise Financial Inc. grew its holdings in Bancroft Fund by 32.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the financial services provider’s stock valued at $5,403,000 after buying an additional 70,606 shares during the period. 22.43% of the stock is currently owned by institutional investors and hedge funds.

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.