Sit Investment Associates Inc. Has $5.64 Million Position in Bancroft Fund Limited $BCV

Sit Investment Associates Inc. trimmed its stake in Bancroft Fund Limited (NYSEAMERICAN:BCV) by 10.3% in the fourth quarter, HoldingsChannel reports. The firm owned 255,169 shares of the financial services provider’s stock after selling 29,269 shares during the period. Sit Investment Associates Inc.’s holdings in Bancroft Fund were worth $5,639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in shares of 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 period. Mezzasalma Advisors LLC increased its stake in Bancroft Fund by 1.3% in the 4th quarter. Mezzasalma Advisors LLC now owns 39,356 shares of the financial services provider’s stock valued at $866,000 after buying an additional 524 shares during the last quarter. Royal Bank of Canada lifted its holdings 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 acquiring an additional 807 shares during the period. 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 purchasing an additional 900 shares during the period. Finally, Caldwell Trust Co purchased a new position in shares of Bancroft Fund in the 4th quarter worth about $55,000. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Stock Performance

BCV opened at $26.07 on Friday. The firm has a 50-day moving average of $25.01 and a 200 day moving average of $23.50. Bancroft Fund Limited has a fifty-two week low of $18.11 and a fifty-two week high of $27.33.

Bancroft Fund Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Monday, June 15th.

About Bancroft Fund

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.