Envestnet Asset Management Inc. Purchases 4,164 Shares of Bancroft Fund Ltd. $BCV

Envestnet Asset Management Inc. boosted its position in shares of Bancroft Fund Ltd. (NYSE:BCV) by 26.7% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,773 shares of the company’s stock after purchasing an additional 4,164 shares during the period. Envestnet Asset Management Inc. owned about 0.34% of Bancroft Fund worth $374,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Mezzasalma Advisors LLC increased its holdings in shares of Bancroft Fund by 1.4% during the second quarter. Mezzasalma Advisors LLC now owns 40,842 shares of the company’s stock worth $772,000 after buying an additional 553 shares in the last quarter. Royal Bank of Canada increased its holdings in Bancroft Fund by 2.0% during the 1st quarter. Royal Bank of Canada now owns 42,161 shares of the company’s stock valued at $735,000 after purchasing an additional 807 shares in the last quarter. Uhlmann Price Securities LLC raised its position in Bancroft Fund by 13.5% in the 2nd quarter. Uhlmann Price Securities LLC now owns 22,296 shares of the company’s stock valued at $421,000 after purchasing an additional 2,649 shares during the last quarter. Invesco Ltd. acquired a new position in Bancroft Fund in the first quarter worth $228,000. Finally, Sit Investment Associates Inc. boosted its stake in Bancroft Fund by 166.9% in the first quarter. Sit Investment Associates Inc. now owns 283,072 shares of the company’s stock worth $4,930,000 after purchasing an additional 177,016 shares in the last quarter. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Stock Performance

Shares of NYSE:BCV opened at $21.40 on Thursday. The business has a fifty day moving average of $22.66 and a 200-day moving average of $20.52. Bancroft Fund Ltd. has a twelve month low of $15.63 and a twelve month high of $23.88.

Bancroft Fund Increases Dividend

The business also recently disclosed 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 represents a $1.40 annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, November 24th. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.32.

About Bancroft Fund

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.