Bancroft Fund (NYSEAMERICAN:BCV) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Bancroft Fund Limited (NYSEAMERICAN:BCV) crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $24.64 and traded as high as $24.78. Bancroft Fund shares last traded at $24.70, with a volume of 16,963 shares trading hands.

Bancroft Fund Trading Down 1.2%

The stock’s fifty day simple moving average is $24.60 and its two-hundred day simple moving average is $24.27.

Bancroft Fund Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 16th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 6.7%. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.35.

Hedge Funds Weigh In On Bancroft Fund

A number of large investors have recently bought and sold shares of the business. Beckerman Institutional LLC acquired a new position in Bancroft Fund in the second quarter valued at approximately $1,894,000. Susquehanna International Group LLP acquired a new stake in shares of Bancroft Fund during the 2nd quarter worth approximately $301,000. Bank of America Corp DE acquired a new stake in shares of Bancroft Fund during the 2nd quarter worth approximately $2,620,000. Evolve Private Wealth LLC bought a new stake in shares of Bancroft Fund in the 2nd quarter worth approximately $524,000. Finally, Allworth Financial LP bought a new stake in shares of Bancroft Fund in the 2nd quarter worth approximately $26,000. Institutional investors own 22.43% of the company’s stock.

Bancroft Fund Company Profile

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.