Bancroft Fund (NYSE:BCV) Stock Price Down 0.2% – Here’s Why

Bancroft Fund Ltd. (NYSE:BCV)’s share price traded down 0.2% on Wednesday . The company traded as low as $22.17 and last traded at $22.27. 6,759 shares were traded during mid-day trading, a decline of 69% from the average session volume of 21,792 shares. The stock had previously closed at $22.31.

Bancroft Fund Price Performance

The company has a 50-day moving average price of $22.52 and a two-hundred day moving average price of $21.11.

Bancroft Fund Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 30th. Shareholders of record on Monday, November 24th will be given a $0.35 dividend. This is an increase from Bancroft Fund’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Monday, November 24th.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BCV. Bank of America Corp DE lifted its holdings in shares of Bancroft Fund by 25,710.4% during the 3rd quarter. Bank of America Corp DE now owns 99,628 shares of the company’s stock worth $2,180,000 after acquiring an additional 99,242 shares during the last quarter. Pathstone Holdings LLC boosted its position in Bancroft Fund by 245.0% during the 3rd quarter. Pathstone Holdings LLC now owns 99,665 shares of the company’s stock valued at $2,181,000 after acquiring an additional 70,776 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Bancroft Fund by 32.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the company’s stock worth $5,403,000 after acquiring an additional 70,606 shares in the last quarter. Bulldog Investors LLP bought a new stake in shares of Bancroft Fund in the 3rd quarter worth approximately $863,000. Finally, Shaker Financial Services LLC purchased a new position in shares of Bancroft Fund in the 3rd quarter worth about $767,000. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Company Profile

The Bancroft Fund (NYSE:BCV) is a closed-end management investment company that seeks to provide total return through both current income and capital appreciation. Established as a publicly traded fund, Bancroft offers investors access to a diversified portfolio of income-oriented securities, with a particular emphasis on funds that themselves invest in dividend-paying and other cash-flow assets.

To pursue its investment objective, the Fund allocates principally to shares of registered investment companies, including other closed-end funds and exchange-traded funds.