November 16, 2016 - By Ruchi Gupta · 0 Comments
Bancroft Fund LTD (NYSEMKT:BCV) institutional sentiment increased to 0.92 in 2016 Q2. Its up 0.59, from 0.33 in 2016Q1. The ratio has increased, as 12 funds opened new or increased holdings, while 13 sold and reduced holdings in Bancroft Fund LTD. The funds in our partner’s database now possess: 1.10 million shares, down from 1.24 million shares in 2016Q1. Also, the number of funds holding Bancroft Fund LTD in their top 10 holdings was flat from 0 to 0 for the same number . Sold All: 4 Reduced: 9 Increased: 9 New Position: 3.
Bancroft Fund Ltd. is a diversified, closed-end management investment company. The company has a market cap of $106.14 million. The Fund’s investment objective is to 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. It currently has negative earnings. The Fund invests in convertible securities.
The stock increased 1.20% or $0.24 on November 15, hitting $20.31. Bancroft Fund Ltd. (NYSEMKT:BCV) has risen 12.52% since April 14, 2016 and is uptrending. It has outperformed by 7.83% the S&P500.
Saba Capital Management L.P. holds 0.4% of its portfolio in Bancroft Fund Ltd. for 238,599 shares. Bulldog Investors Llc owns 39,976 shares or 0.34% of their US portfolio. Moreover, Doliver Capital Advisors Inc. has 0.27% invested in the company for 17,026 shares. The Florida-based Thomas J. Herzfeld Advisors Inc. has invested 0.27% in the stock. Landscape Capital Management L.L.C., a New Jersey-based fund reported 82,913 shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider purchases, and 1 sale for $18 net activity.
Bancroft Fund Ltd. (The Fund), incorporated on October 18, 2005, operates as a closed-end, diversified management firm and invests primarily in convertible securities with the objectives of providing income and the potential for capital appreciation. The portfolio of the Fund at July 31, 2014 consisted of 72.7% cash-pay convertible bonds and notes, 12.1% convertible preferred stock, 12.0% mandatory convertible issues and 0.6% common stock.
More notable recent Bancroft Fund Ltd. (NYSEMKT:BCV) news were published by: Businesswire.com which released: “Bancroft Fund Ltd. Announces the Offering of $30 Million of 5.375% Series A …” on August 04, 2016, also Businesswire.com with their article: “Gabelli Funds is Named the Investment Adviser of Bancroft Fund and Ellsworth …” published on October 21, 2015, Marketwired.com published: “Dinsmore Capital Management Co. Announces Results of Special Shareholders Meeting” on October 19, 2015. More interesting news about Bancroft Fund Ltd. (NYSEMKT:BCV) were released by: Forbes.com and their article: “As Markets Falter, Closed-End Funds Have Potential To Shine” published on January 26, 2016 as well as Businesswire.com‘s news article titled: “Teton Advisors Announces Launch of TETON Convertible Securities Fund” with publication date: July 25, 2016.
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By Ruchi Gupta