Short Interest in Bancroft Fund Limited (NYSEAMERICAN:BCV) Drops By 37.8%

Bancroft Fund Limited (NYSEAMERICAN:BCV) saw a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 1,438 shares, a drop of 37.8% from the February 12th total of 2,311 shares. Based on an average daily volume of 11,850 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average daily volume of 11,850 shares, the days-to-cover ratio is currently 0.1 days.

Bancroft Fund Stock Performance

Shares of BCV stock traded down $0.28 on Friday, reaching $22.34. The stock had a trading volume of 12,988 shares, compared to its average volume of 9,535. Bancroft Fund has a 1 year low of $15.63 and a 1 year high of $24.55. The company has a 50 day simple moving average of $23.22 and a 200 day simple moving average of $22.60.

Bancroft Fund Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 24th. Shareholders of record on Tuesday, March 17th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, March 17th. This represents a $1.40 dividend on an annualized basis and a yield of 6.3%.

Insider Buying and Selling

In other Bancroft Fund news, insider Mario J. Gabelli sold 1,300 shares of Bancroft Fund stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $22.25, for a total value of $28,925.00. Following the completion of the sale, the insider owned 25,700 shares of the company’s stock, valued at approximately $571,825. The trade was a 4.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 3.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BCV. Laurel Wealth Advisors LLC increased its stake in shares of Bancroft Fund by 1,790.0% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 3,780 shares of the financial services provider’s stock worth $71,000 after purchasing an additional 3,580 shares in the last quarter. Bulldog Investors LLP bought a new stake in Bancroft Fund during the third quarter valued at about $863,000. Shaker Financial Services LLC purchased a new stake in Bancroft Fund in the third quarter worth about $767,000. Envestnet Asset Management Inc. increased its position in Bancroft Fund by 26.7% in the second quarter. Envestnet Asset Management Inc. now owns 19,773 shares of the financial services provider’s stock worth $374,000 after buying an additional 4,164 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Bancroft Fund by 8.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,660 shares of the financial services provider’s stock worth $146,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 22.43% of the company’s stock.

About Bancroft Fund

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.