Bancroft Fund Ltd. Plans Quarterly Dividend of $0.32 (NYSE:BCV)

Bancroft Fund Ltd. (NYSE:BCV) announced a quarterly dividend on Wednesday, November 13th,NASDAQ Dividends reports. Investors of record on Friday, November 22nd will be given a dividend of 0.32 per share on Monday, December 30th. This represents a $1.28 annualized dividend and a yield of 7.16%. The ex-dividend date of this dividend is Friday, November 22nd.

Bancroft Fund has decreased its dividend payment by an average of 25.7% per year over the last three years.

Bancroft Fund Price Performance

Shares of Bancroft Fund stock traded down $0.07 on Thursday, hitting $17.87. The company’s stock had a trading volume of 20,048 shares, compared to its average volume of 20,059. Bancroft Fund has a 1 year low of $14.51 and a 1 year high of $18.41. The firm has a fifty day moving average price of $16.82 and a 200-day moving average price of $16.17.

Insiders Place Their Bets

In other news, insider Mario J. Gabelli sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $16.38, for a total value of $65,520.00. Following the transaction, the insider now directly owns 131,000 shares in the company, valued at approximately $2,145,780. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

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.