Key Points
- Bancroft Fund director Anthonie Vanekris sold 1,150 shares on October 16 at an average price of $23.53, reducing his holdings by about 69.7% to 500 shares.
- The fund also announced a quarterly dividend of $0.35 per share, payable June 23 to shareholders of record on June 15, which equates to an annualized yield of about 5.2%.
- Institutional interest remains notable, with hedge funds and other investors owning 22.43% of Bancroft Fund shares; several firms, including Saba Capital and Ameriprise, increased their positions recently.
Bancroft Fund Limited (NYSEAMERICAN:BCV - Get Free Report) Director Anthonie Vanekris sold 1,150 shares of Bancroft Fund stock in a transaction dated Thursday, October 16th. The stock was sold at an average price of $23.53, for a total value of $27,059.50. Following the completion of the transaction, the director directly owned 500 shares of the company's stock, valued at approximately $11,765. This represents a 69.70% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Bancroft Fund Stock Up 0.9%
BCV opened at $26.84 on Wednesday. The stock has a 50-day moving average price of $23.87 and a 200-day moving average price of $23.11. Bancroft Fund Limited has a 1 year low of $18.03 and a 1 year high of $27.33.
Bancroft Fund Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Monday, June 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $1.40 dividend on an annualized basis and a yield of 5.2%.
Hedge Funds Weigh In On Bancroft Fund
A number of hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. raised its position in Bancroft Fund by 14.9% in the 4th quarter. Saba Capital Management L.P. now owns 361,294 shares of the financial services provider's stock worth $7,985,000 after buying an additional 46,755 shares during the last quarter. Ameriprise Financial Inc. raised its position in Bancroft Fund by 7.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 306,950 shares of the financial services provider's stock worth $6,717,000 after buying an additional 21,151 shares during the last quarter. Pathstone Holdings LLC raised its position in Bancroft Fund by 245.0% in the 3rd quarter. Pathstone Holdings LLC now owns 99,665 shares of the financial services provider's stock worth $2,181,000 after buying an additional 70,776 shares during the last quarter. Bank of America Corp DE raised its position in Bancroft Fund by 25,710.4% in the 3rd quarter. Bank of America Corp DE now owns 99,628 shares of the financial services provider's stock worth $2,180,000 after buying an additional 99,242 shares during the last quarter. Finally, Blue Bell Private Wealth Management LLC raised its position in Bancroft Fund by 21.3% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 97,374 shares of the financial services provider's stock worth $2,152,000 after buying an additional 17,095 shares during the last quarter. Hedge funds and other institutional investors own 22.43% of the company's stock.
Bancroft Fund Company Profile
(
Get Free Report)
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.
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