Bancroft Fund Ltd. Closed-Ended Fund (NYSEAMERICAN:BCV) Short Interest Update

Bancroft Fund Ltd. Closed-Ended Fund (NYSEAMERICAN:BCV) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totalling 10,400 shares, a growth of 181.1% from the February 27th total of 3,700 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 27,700 shares, the days-to-cover ratio is presently 0.4 days.

Hedge funds have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Bancroft Fund Ltd. Closed-Ended Fund by 21.2% in the fourth quarter. Advisors Asset Management Inc. now owns 478,556 shares of the financial services provider’s stock valued at $21,822,000 after acquiring an additional 83,706 shares during the period. Cohen & Steers Inc. boosted its position in shares of Bancroft Fund Ltd. Closed-Ended Fund by 8.8% in the fourth quarter. Cohen & Steers Inc. now owns 138,593 shares of the financial services provider’s stock valued at $3,617,000 after acquiring an additional 11,245 shares during the period. Raymond James & Associates boosted its position in shares of Bancroft Fund Ltd. Closed-Ended Fund by 10.5% in the fourth quarter. Raymond James & Associates now owns 57,724 shares of the financial services provider’s stock valued at $1,506,000 after acquiring an additional 5,483 shares during the period. Envestnet Asset Management Inc. purchased a new stake in Bancroft Fund Ltd. Closed-Ended Fund in the fourth quarter valued at approximately $654,000. Finally, Cetera Advisors LLC raised its stake in Bancroft Fund Ltd. Closed-Ended Fund by 47.6% in the fourth quarter. Cetera Advisors LLC now owns 106,082 shares of the financial services provider’s stock valued at $2,774,000 after purchasing an additional 34,214 shares in the last quarter.

Shares of BCV stock traded up $1.24 during trading hours on Thursday, reaching $20.90. The stock had a trading volume of 25,700 shares, compared to its average volume of 36,471. Bancroft Fund Ltd. Closed-Ended Fund has a 12 month low of $14.27 and a 12 month high of $27.73.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 24th. Stockholders of record on Tuesday, March 17th were given a $0.29 dividend. This is a positive change from Bancroft Fund Ltd. Closed-Ended Fund’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a dividend yield of 5.55%. The ex-dividend date was Monday, March 16th.

About Bancroft Fund Ltd. Closed-Ended 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.

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