BCV News and Press, Bancroft Fund Ltd. From 03/06/22

Reducing the tax obligation of an investor can mean greater returns when more of that cash is kept. When looking through closed-end funds, you will run across many funds that are tax-friendly. These are often equity funds to receive qualified dividends and long-term capital gains;...

Return of capital is often misunderstood as always being a bad thing when showing up in the tax character of distribution. However, there is a significant benefit to return of capital for those held in a taxable account as a way to defer tax obligations. These can be deferred pote...

For income investors, closed-end funds remain an attractive investment class that covers a variety of asset classes and promise high distributions and reasonable total returns. Closed-end funds are generally characterized by higher volatility and deeper drawdowns than the broad market...

GCV is another interesting convertible fund in the closed-end fund space. We recently covered peers ECF and BCV. One of the problems is that GCV is quite expensive compared to ECF and BCV, even relatively expensive to its own historical range. Besides that, the performance of ECF ...

BCV has been getting hit by the market, and discounts have expanded, similar to its sister fund, ECF. These funds operate in the convertible space, but BCV seems to be more pure-play. Interest rates can play less of a role in the performance of convertibles; instead, it generally ...

4 out of 24 CEF sectors positive on price and 2 out of 24 sectors positive on NAV last week. Date for PIMCO merger of PCI and PKO into PDI announced. USA rights offering results. JDD, JTA and JTD have been merged into the multi-asset NMAI. For further details see: We...

The Board of Trustees of Bancroft Fund Ltd. (NYSE American: BCV) (the “Fund”) declared a $3.17 per share cash distribution payable on December 28, 2021 to common shareholders of record on November 24, 2021. With this fourth quarter distribution, the total distributions fro...

GCV is another fund that is offered under the Gabelli fund sponsor, the others being BCV and ECF. This one is slightly different from BCV and ECF in that it also includes Mario Gabelli himself as a manager. Despite that, the other managers are the same and there is quite a bit of ...

ECF is quite similar to BCV, which we recently covered, both being under the Gabelli banner and focused on convertibles. The similarities between their portfolios have played out that their total performance figures are quite close as well. At this time, ECF is attractively valued...

Discounts widened a bit but remain very tight relative to historical comparisons going back to 1996. Munis are now in line with taxable avg. premiums. At this time, a counter-cyclical approach is warranted. I have been advocating rotating from leveraged, junkier, and discount suscepti...