Mario J. Gabelli, a director and control person of the investment adviser for Bancroft Fund Ltd. (NYSE:BCV), has recently sold 1,500 common shares of the company, according to a filing submitted to the Securities and Exchange Commission. The shares were sold at a price of $17.7382 each, resulting in a total transaction value of $26,607. The sale comes as BCV maintains a notable 7.1% dividend yield and has shown strong performance with a 21.7% return year-to-date, according to InvestingPro data.
Following the transaction, Gabelli holds 28,000 shares indirectly through Associated Capital Group (NYSE:AC), Inc., where he serves as Executive Chair and is a controlling shareholder. Additionally, he directly owns 131,000 shares of Bancroft Fund Ltd.
The filing, signed by Peter D. Goldstein as Attorney-in-Fact for Gabelli, was submitted on December 26, 2024.
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