Beckerman Institutional LLC Buys New Shares in Bancroft Fund Limited $BCV

Beckerman Institutional LLC bought a new stake in shares of Bancroft Fund Limited (NYSEAMERICAN:BCV) during the 2nd quarter, HoldingsChannel reports. The institutional investor bought 72,888 shares of the financial services provider’s stock, valued at approximately $1,894,000. Bancroft Fund accounts for approximately 0.9% of Beckerman Institutional LLC’s investment portfolio, making the stock its 21st biggest holding.

Several other large investors have also added to or reduced their stakes in BCV. Allworth Financial LP bought a new position in shares of Bancroft Fund in the 2nd quarter worth $26,000. Caldwell Trust Co acquired a new stake in shares of Bancroft Fund in the 4th quarter worth about $55,000. Raymond James Financial Inc. bought a new position in Bancroft Fund in the 2nd quarter valued at about $136,000. Osaic Holdings Inc. increased its holdings in Bancroft Fund by 95.8% during the 2nd quarter. Osaic Holdings Inc. now owns 8,415 shares of the financial services provider’s stock worth $159,000 after purchasing an additional 4,118 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Bancroft Fund by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,205 shares of the financial services provider’s stock valued at $198,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Trading Up 0.2%

Shares of Bancroft Fund stock opened at $24.81 on Friday. The stock has a fifty day simple moving average of $24.97 and a 200 day simple moving average of $24.15. Bancroft Fund Limited has a 12-month low of $19.99 and a 12-month high of $27.33.

Bancroft Fund Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.64 annualized dividend and a dividend yield of 6.6%. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.35.

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.