Bancroft Fund Ltd. (NYSE:BCV) Stake Boosted by Wolverine Asset Management LLC

Wolverine Asset Management LLC increased its stake in Bancroft Fund Ltd. (NYSE:BCV) by 424.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 27,478 shares of the company’s stock after purchasing an additional 22,237 shares during the period. Wolverine Asset Management LLC’s holdings in Bancroft Fund were worth $461,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Beckerman Institutional LLC bought a new stake in Bancroft Fund in the third quarter valued at $1,128,000. Advisors Asset Management Inc. increased its holdings in shares of Bancroft Fund by 84.3% in the 1st quarter. Advisors Asset Management Inc. now owns 139,259 shares of the company’s stock worth $2,227,000 after acquiring an additional 63,711 shares during the period. Cornerstone Advisors LLC lifted its position in Bancroft Fund by 30.5% in the 2nd quarter. Cornerstone Advisors LLC now owns 113,423 shares of the company’s stock valued at $1,777,000 after purchasing an additional 26,489 shares during the last quarter. Shaker Financial Services LLC boosted its stake in Bancroft Fund by 23.7% during the 3rd quarter. Shaker Financial Services LLC now owns 83,989 shares of the company’s stock valued at $1,408,000 after purchasing an additional 16,100 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position 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 worth $1,003,000 after purchasing an additional 5,288 shares during the last quarter. Institutional investors and hedge funds own 22.43% of the company’s stock.

Bancroft Fund Stock Down 0.2 %

BCV opened at $17.94 on Thursday. The business’s 50 day moving average is $16.79 and its 200-day moving average is $16.16. Bancroft Fund Ltd. has a twelve month low of $14.51 and a twelve month high of $18.41.

Bancroft Fund Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 23rd. Investors of record on Monday, September 16th were given a $0.32 dividend. The ex-dividend date was Monday, September 16th. This represents a $1.28 dividend on an annualized basis and a yield of 7.13%.

Insider Buying and Selling at Bancroft Fund

In other news, insider Mario J. Gabelli sold 4,000 shares of the company’s stock in a transaction that occurred on 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 directly owns 131,000 shares of the company’s stock, valued at approximately $2,145,780. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Bancroft Fund 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.