Bancroft Fund Limited (NYSEAMERICAN:BCV) Plans Dividend Increase – $0.41 Per Share

Bancroft Fund Limited (NYSEAMERICAN:BCV) announced a quarterly dividend on Wednesday, August 12th. Shareholders of record on Wednesday, September 16th will be given a dividend of 0.41 per share by the financial services provider on Wednesday, September 23rd. This represents a c) dividend on an annualized basis and a yield of 6.4%. The ex-dividend date is Wednesday, September 16th. This is a 17.1% increase from Bancroft Fund’s previous quarterly dividend of $0.35.

Bancroft Fund Stock Up 2.9%

Shares of NYSEAMERICAN BCV opened at $25.61 on Thursday. The stock’s fifty day simple moving average is $25.00 and its two-hundred day simple moving average is $24.10. Bancroft Fund has a 12-month low of $19.87 and a 12-month high of $27.33.

Institutional Investors Weigh In On Bancroft Fund

A number of hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake in Bancroft Fund by 2.0% in the first quarter. Royal Bank of Canada now owns 42,161 shares of the financial services provider’s stock valued at $735,000 after purchasing an additional 807 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of Bancroft Fund by 5.0% during the second quarter. Cetera Investment Advisers now owns 18,946 shares of the financial services provider’s stock valued at $358,000 after buying an additional 900 shares during the last quarter. Invesco Ltd. lifted its position in shares of Bancroft Fund by 141.4% during the second quarter. Invesco Ltd. now owns 31,618 shares of the financial services provider’s stock valued at $598,000 after buying an additional 18,522 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Bancroft Fund during the second quarter valued at about $136,000. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Bancroft Fund by 32.8% in the 2nd quarter. Ameriprise Financial Inc. now owns 285,799 shares of the financial services provider’s stock valued at $5,403,000 after buying an additional 70,606 shares in the last quarter. 22.43% of the stock is currently owned by hedge funds and other institutional investors.

About Bancroft Fund

Bancroft Fund, Inc (NYSE American: BCV) is a closed-end management investment company that seeks long-term growth of capital. Shares of the Fund trade on the NYSE American exchange, providing investors with access to a diversified portfolio of U.S. equity securities under a closed-end structure. The Fund’s board of directors oversees a disciplined investment process governed by a stated strategy and risk parameters.

The Fund’s primary investment objective is capital appreciation. To pursue this goal, Bancroft Fund allocates at least 80% of its total assets to equity securities of U.S.