Cambridge Investment Research Advisors Inc. Purchases 7,683 Shares of Bancroft Fund Ltd. (NYSEAMERICAN:BCV)

Cambridge Investment Research Advisors Inc. raised its position in Bancroft Fund Ltd. (NYSEAMERICAN:BCV) by 27.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,014 shares of the financial services provider’s stock after purchasing an additional 7,683 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Bancroft Fund were worth $1,085,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of BCV. RMB Capital Management LLC bought a new stake in shares of Bancroft Fund during the third quarter worth $702,000. LPL Financial LLC bought a new stake in shares of Bancroft Fund during the third quarter worth $354,000. Shaker Financial Services LLC bought a new stake in shares of Bancroft Fund during the third quarter worth $342,000. David J Yvars Group bought a new stake in shares of Bancroft Fund during the fourth quarter worth $330,000. Finally, First Trust Advisors LP bought a new stake in shares of Bancroft Fund during the first quarter worth $200,000. 24.84% of the stock is owned by institutional investors.

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Shares of BCV opened at $32.10 on Tuesday. Bancroft Fund Ltd. has a 12 month low of $14.27 and a 12 month high of $36.33. The stock’s fifty day simple moving average is $28.97.

In related news, insider Mario J. Gabelli sold 4,000 shares of the stock in a transaction on Monday, December 21st. The shares were sold at an average price of $29.70, for a total transaction of $118,800.00. Following the completion of the transaction, the insider now owns 138,000 shares in the company, valued at $4,098,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mario J. Gabelli sold 1,205 shares of the stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $35.00, for a total transaction of $42,175.00. Following the transaction, the insider now owns 126,495 shares of the company’s stock, valued at approximately $4,427,325. The disclosure for this sale can be found here. Insiders have sold 5,705 shares of company stock valued at $178,615 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

About Bancroft Fund

Bancroft Fund Ltd. is a closed-ended equity mutual fund launched by GAMCO Investors, Inc It is managed by Gabelli Funds, LLC. The fund invests in the public equity markets. It primarily invests in convertible securities including convertible debt and convertible preferred stocks. The fund invests in stocks of companies across market capitalization.

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