Cornerstone Advisors LLC Has $557,000 Holdings in Bancroft Fund Ltd. (NYSE:BCV)

Cornerstone Advisors LLC trimmed its stake in Bancroft Fund Ltd. (NYSE:BCV) by 51.0% in the fourth quarter, HoldingsChannel reports. The firm owned 31,426 shares of the company’s stock after selling 32,689 shares during the period. Cornerstone Advisors LLC’s holdings in Bancroft Fund were worth $557,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Bancroft Fund in the fourth quarter worth $222,000. Wolverine Asset Management LLC grew its holdings in Bancroft Fund by 424.3% in the third quarter. Wolverine Asset Management LLC now owns 27,478 shares of the company’s stock worth $461,000 after purchasing an additional 22,237 shares during the period. Mezzasalma Advisors LLC acquired a new stake in Bancroft Fund in the fourth quarter worth $723,000. Finally, Blue Bell Private Wealth Management LLC grew its holdings in shares of Bancroft Fund by 57.2% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 55,465 shares of the company’s stock valued at $982,000 after buying an additional 20,177 shares during the last quarter. 22.43% of the stock is currently owned by institutional investors and hedge funds.

Bancroft Fund Trading Down 1.2 %

Shares of NYSE BCV opened at $17.65 on Tuesday. The company has a 50-day moving average price of $18.21 and a 200-day moving average price of $17.60. Bancroft Fund Ltd. has a 1 year low of $14.51 and a 1 year high of $18.77.

Bancroft Fund Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 17th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $1.28 annualized dividend and a dividend yield of 7.25%.

Insider Transactions at Bancroft Fund

In other news, insider Mario J. Gabelli sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $17.74, for a total value of $26,610.00. Following the completion of the sale, the insider now directly owns 28,000 shares in the company, valued at approximately $496,720. The trade was a 5.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

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.