Wed Sep 25 07:20:46 UTC 2024: ## Institutional Investors Shuffle Holdings in Bancroft Fund Ltd. (BCV)
**New York, NY – September 25, 2024** – Commonwealth Equity Services LLC reduced its stake in Bancroft Fund Ltd. (NYSE:BCV) by 5.4% during the second quarter, according to its latest Form 13F filing with the Securities & Exchange Commission. The firm now owns 17,507 shares of the closed-ended equity mutual fund, valued at $274,000.
Meanwhile, several other institutional investors increased their positions in Bancroft Fund during the first and second quarters. Advisors Asset Management Inc. boosted its holdings by 84.3%, now owning 139,259 shares worth $2,227,000. John G Ullman & Associates Inc. saw its position rise by 9.0% to 101,122 shares valued at $1,617,000. Cornerstone Advisors LLC also lifted its stake by 16.2% to 86,934 shares worth $1,390,000. Cambridge Investment Research Advisors Inc. increased its holdings by 9.0% in the second quarter, bringing its total ownership to 64,028 shares worth $1,003,000. Finally, Consolidated Portfolio Review Corp raised its position by 102.5% in the first quarter, now holding 58,336 shares valued at $933,000.
In total, institutional investors currently own 22.43% of Bancroft Fund’s outstanding shares.
Bancroft Fund, managed by Gabelli Funds, LLC, focuses on investing in public equity markets, particularly convertible securities like convertible debt and preferred stocks across various market capitalizations.
The stock opened at $16.55 on Wednesday, with a 50-day moving average of $16.23 and a 200-day moving average of $15.77. The stock has traded between a 1-year low of $14.09 and a 1-year high of $16.69.
In other news, Mario J. Gabelli, an insider at Bancroft Fund, sold 4,000 shares on August 29th at an average price of $16.38, generating $65,520.00 in proceeds. Following the transaction, Gabelli directly owns 131,000 shares worth $2,145,780. Insiders collectively own 4.10% of the company’s stock.
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