Bancroft Fund Ltd. (NYSEAMERICAN:BCV – Get Rating) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 11,600 shares, an increase of 132.0% from the January 15th total of 5,000 shares. Based on an average trading volume of 17,000 shares, the short-interest ratio is presently 0.7 days.
Bancroft Fund Stock Performance
Shares of BCV stock traded up $0.14 during mid-day trading on Monday, reaching $18.71. 422 shares of the company's stock traded hands, compared to its average volume of 12,132. Bancroft Fund has a 12 month low of $16.01 and a 12 month high of $23.48.
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Bancroft Fund Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 28th. Stockholders of record on Wednesday, November 23rd were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date of this dividend was Tuesday, November 22nd.
Hedge Funds Weigh In On Bancroft Fund
Several large investors have recently modified their holdings of BCV. Blue Bell Private Wealth Management LLC raised its position in shares of Bancroft Fund by 715.0% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 5,379 shares of the financial services provider's stock worth $88,000 after purchasing an additional 4,719 shares during the last quarter. McIlrath & Eck LLC purchased a new position in Bancroft Fund in the 3rd quarter worth about $109,000. UBS Group AG raised its position in Bancroft Fund by 375.6% in the 1st quarter. UBS Group AG now owns 10,473 shares of the financial services provider's stock worth $239,000 after buying an additional 8,271 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its position in Bancroft Fund by 15.2% in the 4th quarter. Oak Harbor Wealth Partners LLC now owns 14,605 shares of the financial services provider's stock worth $239,000 after buying an additional 1,926 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in Bancroft Fund in the 1st quarter worth about $254,000. Hedge funds and other institutional investors own 17.75% of the company's stock.
About Bancroft Fund
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Bancroft Fund Ltd. (NYSE MKT: BCV) operates as a closed-end, diversified management company and invests primarily in convertible securities with the objectives of providing income and the potential for capital appreciation; which objectives the Fund considers to be relatively equal, over the long-term, due to the nature of the securities in which it invests.
Further Reading
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