Bancroft Fund Ltd. Reports Unaudited Earnings Results for the First Quarter Ended January 31, 2014
February 26, 2014 at 04:32 pm
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Bancroft Fund Ltd. reported unaudited earnings results for the first quarter ended January 31, 2014. For the quarter, the company reported net income of $317,000 or $0.06 per share against $440,000 or $0.08 per share a year ago. Net asset value per share as on January 31, 2014 was $22.75 against $20.01 as on January 31, 2013.
Bancroft Fund Ltd. (the Fund) is a diversified closed-end management investment company. The Fundâs primary investment objective is to provide 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. The Fund invests primarily in convertible and equity securities. The Fund's investment portfolio includes convertible corporate bonds, convertible preferred stocks, mandatory convertible securities and common stocks. The Fund invests in various industries, such as computer software and services, health care, business services, financial services, security software, consumer services, communications equipment, energy and utilities, semiconductors, telecommunications, real estate investment trusts, diversified industrial, entertainment, airlines, equipment and supplies, transportation and agriculture. Gabelli Funds, LLC serves as the investment advisor of the Fund.
BANCROFT FUND LTD. 
