Bancroft Fund Ltd. (NYSEAMERICAN:BCV) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 2,500 shares, a growth of 525.0% from the December 15th total of 400 shares. Based on an average daily volume of 25,800 shares, the days-to-cover ratio is currently 0.1 days.
Shares of BCV traded down $0.21 during mid-day trading on Friday, hitting $25.00. 115 shares of the company’s stock were exchanged, compared to its average volume of 27,360. Bancroft Fund has a fifty-two week low of $25.12 and a fifty-two week high of $36.33.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 28th. Stockholders of record on Wednesday, November 24th were given a dividend of $3.17 per share. The ex-dividend date of this dividend was Tuesday, November 23rd. This is a positive change from Bancroft Fund’s previous quarterly dividend of $0.32. This represents a $12.68 dividend on an annualized basis and a dividend yield of 50.72%.
About Bancroft Fund
Bancroft Fund Ltd. (NYSE MKT: BCV) operates as a closed-end, diversified management company and invests primarily in convertible securities with the objectives of 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.
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