Cornerstone Advisors LLC Purchases 12,131 Shares of Bancroft Fund Ltd. (NYSE:BCV)

Cornerstone Advisors LLC lifted its stake in Bancroft Fund Ltd. (NYSE:BCV) by 16.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 86,934 shares of the company’s stock after purchasing an additional 12,131 shares during the period. Cornerstone Advisors LLC owned 1.48% of Bancroft Fund worth $1,390,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Bell Private Wealth Management LLC raised its stake in Bancroft Fund by 9.7% in the first quarter. Blue Bell Private Wealth Management LLC now owns 15,686 shares of the company’s stock valued at $251,000 after buying an additional 1,391 shares during the period. Bulldog Investors LLP raised its position in shares of Bancroft Fund by 47.6% in the 4th quarter. Bulldog Investors LLP now owns 22,345 shares of the company’s stock worth $357,000 after acquiring an additional 7,202 shares in the last quarter. John G Ullman & Associates Inc. grew its stake in shares of Bancroft Fund by 9.0% in the 1st quarter. John G Ullman & Associates Inc. now owns 101,122 shares of the company’s stock valued at $1,617,000 after buying an additional 8,350 shares during the period. Koshinski Asset Management Inc. boosted its stake in Bancroft Fund by 71.9% during the 4th quarter. Koshinski Asset Management Inc. now owns 34,211 shares of the company’s stock valued at $547,000 after purchasing an additional 14,306 shares during the last quarter. Finally, Consolidated Portfolio Review Corp purchased a new stake in Bancroft Fund in the 4th quarter valued at about $460,000. 22.43% of the stock is owned by institutional investors.

Bancroft Fund Stock Performance

Shares of BCV stock traded down $0.01 during trading on Friday, reaching $16.09. 27,559 shares of the company’s stock traded hands, compared to its average volume of 13,904. The firm’s 50-day moving average is $15.68 and its 200 day moving average is $15.53. Bancroft Fund Ltd. has a 1 year low of $14.09 and a 1 year high of $18.11.

Bancroft Fund Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Investors of record on Thursday, June 13th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a yield of 7.96%.

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.