Cornerstone Advisors LLC Buys 26,489 Shares of Bancroft Fund Ltd. (NYSE:BCV)

Cornerstone Advisors LLC boosted its stake in Bancroft Fund Ltd. (NYSE:BCV) by 30.5% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 113,423 shares of the company’s stock after buying an additional 26,489 shares during the period. Cornerstone Advisors LLC owned approximately 1.93% of Bancroft Fund worth $1,777,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Advisors Asset Management Inc. grew its stake in Bancroft Fund by 84.3% in the 1st quarter. Advisors Asset Management Inc. now owns 139,259 shares of the company’s stock valued at $2,227,000 after buying an additional 63,711 shares during the last quarter. John G Ullman & Associates Inc. grew its stake in Bancroft Fund by 9.0% in the 1st quarter. John G Ullman & Associates Inc. now owns 101,122 shares of the company’s stock valued at $1,617,000 after buying an additional 8,350 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Bancroft Fund by 9.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 64,028 shares of the company’s stock valued at $1,003,000 after buying an additional 5,288 shares during the last quarter. Consolidated Portfolio Review Corp grew its stake in Bancroft Fund by 102.5% in the 1st quarter. Consolidated Portfolio Review Corp now owns 58,336 shares of the company’s stock valued at $933,000 after buying an additional 29,532 shares during the last quarter. Finally, Bulldog Investors LLP grew its stake in Bancroft Fund by 47.6% in the 4th quarter. Bulldog Investors LLP now owns 22,345 shares of the company’s stock valued at $357,000 after buying an additional 7,202 shares during the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

Insider Buying and Selling at Bancroft Fund

In other Bancroft Fund news, insider Mario J. Gabelli sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $16.38, for a total value of $65,520.00. Following the completion of the sale, the insider now owns 131,000 shares of the company’s stock, valued at approximately $2,145,780. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.10% of the company’s stock.

Bancroft Fund Trading Down 1.1 %

Shares of BCV opened at $16.33 on Tuesday. Bancroft Fund Ltd. has a 52 week low of $14.09 and a 52 week high of $16.65. The firm’s 50-day simple moving average is $16.17 and its 200 day simple moving average is $15.73.

Bancroft Fund Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 16th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 7.84%. The ex-dividend date is Monday, September 16th.

Bancroft Fund Company Profile

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.