Key Details
Price
$18.56Last Dividend
$0.32Annual Revenue
-$48.38 MAnnual ROE
-41.49%Beta
0.51Events Calendar
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Nov 22, 2024Next split:
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The Bancroft Fund offers a 7.12% yield, outperforming most domestic stock or bond indices but lagging behind its peers in yield and historical performance. The fund primarily invests in convertible bonds, which provide equity-like gains and inflation protection, making it appealing for income-focused investors wary of traditional bonds. Despite underperforming in the first half of 2024, the fund's net asset value has been up since May, and it fully covered its distributions through unrealized capital gains.
RYE, N.Y., Nov. 13, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of Bancroft Fund Ltd. (NYSE American:BCV) (the “Fund”) declared a $0.32 per share cash distribution payable on December 30, 2024 to common shareholders of record on November 22, 2024.
RYE, N.Y., Aug. 23, 2024 (GLOBE NEWSWIRE) -- The Board of Trustees of Bancroft Fund Ltd. (NYSE American:BCV) (the “Fund”) declared a $0.32 per share cash distribution payable on September 23, 2024 to common shareholders of record on September 16, 2024.
On May 16, 2024, the Board of Trustees of Bancroft Fund Ltd. announced a cash distribution of $0.32 per share for common shareholders of record on June 13, 2024, payable on June 21, 2024.
Bancroft Fund and Ellsworth Growth and Income Fund offer diversified exposure to convertible debt investments. Convertible bonds offer yield as fixed-income investments but also potential upside through conversion into common stock. Higher interest rates are leading to higher yields and more issuances of convertibles by higher-rated companies.
The Bancroft Fund is a closed-end fund that focuses on convertible securities for current income and capital appreciation. BCV's distribution appears aggressive relative to the fund's long-term historical returns. Current market conditions are not conducive for convertible bonds as both equity and fixed income markets remain in bear markets.
Bancroft Fund is trading at a deep discount and invests mostly in convertible securities. The fund's discount is attractive, and recent higher yields on convertibles could lead to better returns going forward. BCV's net investment income has increased significantly, and the rising interest rates and higher yields on convertibles make the fund more attractive for investors.
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