BCV News and Press, Bancroft Fund Ltd. From 02/01/21

ECF can provide more unique and varied exposure to convertible holdings. Convertible funds had done incredibly well throughout 2020, with continued volatility they could continue doing well through 2021 too. ECF offers a modest quarterly distribution, but can have a significant ye...

The convertibles sector had a tremendous 2020 on the back of a number of tailwinds such as outperformance in its sector tilts, high volatility and falling rates. We take a look at the different options for investors in the sector across both open-end and closed-end funds. Interest...

People who see CICVX's 48.77% 2020 return and ask, "Did we miss it?" aren't considering what's unique about investing in convertibles, according to the portfolio managers. While a 100-basis point rate rise can be a headwind for traditional fixed income, converts often have a different...

December was another good month for CEFs with some discount tightening and NAV growth. The Core Portfolio was up over 1% with the NAV up 1.8%. The January Effect could bring discounts to an expensive level if the recent trends continue. At that point we would want to start reducing CE...

For the broader indexes, December continued along its upward momentum. Overall, the market seems to be quite lofty at these levels, so keeping a cash allocation could be appropriate. The overall buying for the month might seem like a lot of positions, but was on the lighter side a...

17 out of 23 CEF sectors positive on price and 19 out of 23 sectors positive on NAV last week. PPR tender offer expires on January 4, 2021, and our Tactical Income-100 portfolio is tendering all shares. NHF's extended tender offer also expired. For further details see: W...

From the beginning of the sell-off on Feb. 20 to their low point on March 23 of 2020, the ICE BofA US Convertibles Index had declined by roughly 26%. Performance has continued to improve since then - the ICE BofA US Convertibles Index climbed by more than 46% in 2020, from Jan. 1 thro...

Convertible securities were up 46.22% in 2020 and outperformed every other major asset class. Convertibles provide the opportunity to participate in equities' upside, coupled with the ability to mitigate the risk of equities' downside. While issuance overall may decelerate from 20...

November started out with a bang due to the election. Besides some early buying last month, it was another month of light buying throughout the remainder of November. I certainly didn't anticipate the sharp moves higher that the market was given after the election, but that is why...

23 out of 23 CEF sectors positive on price and 22 out of 23 sectors positive on NAV last week. Rally continues for the fifth week; MLPs lead again. DSL cuts distribution. For further details see: Weekly Closed-End Fund Roundup: December 6, 2020