Bancroft Fund Limited (NYSEAMERICAN:BCV) Sees Large Decrease in Short Interest

Bancroft Fund Limited (NYSEAMERICAN:BCV) was the recipient of a significant decrease in short interest during the month of October. As of October 30th, there was short interest totaling 357 shares, a decrease of 89.0% from the October 15th total of 3,231 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 9,364 shares, the short-interest ratio is currently 0.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BCV. Advisors Asset Management Inc. acquired a new position in shares of Bancroft Fund in the 3rd quarter valued at $3,744,000. Bank of America Corp DE acquired a new position in Bancroft Fund during the second quarter worth about $2,620,000. Beckerman Institutional LLC acquired a new position in shares of Bancroft Fund during the 2nd quarter worth approximately $1,894,000. Evolve Private Wealth LLC purchased a new stake in Bancroft Fund in the 2nd quarter valued at $524,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Bancroft Fund by 13.8% in the third quarter. Blue Bell Private Wealth Management LLC now owns 136,827 shares of the financial services provider’s stock valued at $3,158,000 after purchasing an additional 16,619 shares during the period. 22.43% of the stock is owned by institutional investors and hedge funds.

Bancroft Fund Stock Performance

Shares of Bancroft Fund stock traded down $0.20 on Friday, hitting $21.02. 15,335 shares of the company traded hands, compared to its average volume of 14,849. The stock’s 50 day moving average price is $22.83 and its 200-day moving average price is $23.83. Bancroft Fund has a 52 week low of $20.80 and a 52 week high of $27.33.

Bancroft Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 30th. Shareholders of record on Monday, November 23rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 9.5%. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, November 23rd.

About Bancroft Fund

Bancroft Fund is a closed-end investment company that seeks to provide investors with current income and the potential for capital appreciation. It invests primarily in convertible securities, which can include convertible bonds and preferred stocks. The fund may also hold common stocks and other securities as part of its portfolio. Its investments span companies in different industries, and the portfolio is managed with a focus on convertible securities. Bancroft Fund is advised by Gabelli Funds, LLC, an investment management firm affiliated with GAMCO Investors.