Bancroft Fund Limited (NYSEAMERICAN:BCV) Stock Short Interest Climbs 56.1%

Bancroft Fund Limited (NYSEAMERICAN:BCV) was the target of a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 9,349 shares, an increase of 56.1% from the September 15th total of 5,990 shares. Based on an average trading volume of 9,531 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the company’s shares are sold short.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allworth Financial LP purchased a new position in shares of Bancroft Fund in the second quarter worth $26,000. Integrated Wealth Concepts LLC purchased a new stake in Bancroft Fund during the 2nd quarter valued at $73,000. PNC Financial Services Group Inc. boosted its position in Bancroft Fund by 48.3% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,205 shares of the financial services provider’s stock valued at $198,000 after buying an additional 3,000 shares during the period. Susquehanna International Group LLP purchased a new stake in Bancroft Fund during the 2nd quarter valued at $301,000. Finally, Uhlmann Price Securities LLC grew its holdings in Bancroft Fund by 2.8% in the 1st quarter. Uhlmann Price Securities LLC now owns 24,189 shares of the financial services provider’s stock worth $521,000 after acquiring an additional 670 shares during the last quarter. Institutional investors own 22.43% of the company’s stock.

Bancroft Fund Stock Down 1.7%

Shares of Bancroft Fund stock opened at $22.01 on Friday. The business’s 50 day simple moving average is $24.07 and its two-hundred day simple moving average is $24.44. Bancroft Fund has a one year low of $21.06 and a one year high of $27.33.

Bancroft Fund Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 16th were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.5%. This is a boost from Bancroft Fund’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Wednesday, September 16th.

About Bancroft Fund

Bancroft Fund, Ltd. is a diversified, closed-end management investment company listed on the NYSE American under the symbol BCV. The fund seeks to provide investors with current income and the opportunity for capital appreciation by investing primarily in convertible securities.

Its portfolio may include convertible bonds, convertible preferred stocks and other income-producing securities. Convertible investments generally provide a combination of interest or dividend income and the potential to participate in the equity appreciation of the underlying issuer.