CEF Advisors

7204 Glen Forest Drive, Suite #105 Richmond, Virginia 23226 USA   ♦   Toll-Free: (800) 356-3508 / Local: (804) 288-2482    ♦   www.CEFadvisors.com   ♦   Contact@CEFadvisors.com

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Bancroft Fund (BCV)

Taxable Bond Funds - Convertible Funds

Data as of April 8, 2020
Current
Market Price $19.81 (+ $0.56)
NAV (April 8, 2020) $22.49 (+ $0.50)
Premium / Discount -11.92% (+0.54%)
Fund Info
Inception Oct. 4, 1971
Sponsor Gabelli Funds
Website https://www.gabelli.co...
Phone (800) 422-3554
NAV Symbol XBCVX
Objective: Income and capital appreciation, invests primarily in convertible securities.
Related Indexes
Convertible Bond Index
Capital & Leverage
Outstanding Shares 5,118,574
Total Assets (Reported: Oct. 31, 2019) $167M
Estimated Total Assets $144M
Net Assets $115M
Market Cap $101M
Purchases Turnover 33.38%
Sales Turnover 33.62%
Total Leverage 20.00%
Structural Leverage (out of total) 100.00%
Portfolio Leverage (out of total) 0.00%
Expense Ratio 1.50%
Non Lev Exp Ratio 1.30%
Rel Lev Cost 0.81%
Discount Data
Average Discount (3 Yr) -10.47%
Discount Low(3 Yr) -21.65%
Discount High(3 Yr) -0.11%
Discount Rel Range 45.21%
Comp Discount -5.09
Discount St Dev (1Yr) 4.28
Z-Stat
Z-Stat (6mo) -1.38
Z-Stat (1Yr) -0.88
Z-Stat (3Yr) -0.41
Comp Z-Stat (6mo) -0.55
Comp Z-Stat (3Yr) 0.54
Distribution Data
Market Yield 5.75%
Income Yield 1.40%
Lev Adj NAV Yield 4.22%
Distribution Frequency Q
Current Distribution $0.290
Current Income $0.080
Ex-Date 3/16/20
Payable Date 3/24/20
Div Growth (3yr) 16.00%
Dividend Change 16.0% on 2/12/20
Expected Div 5/21/20
RoC (1yr) 0.00%
RoC (3yr) 0.00%
Tax Dividend Data 2019 2017 - 2019
Income 12.7% 28.9%
ST Gains 0.3% 3.8%
QDI 6.7% 14.7%
LT Gains 87.0% 67.2%
RoC 0% 0%
Volume & Liquidity
Average Daily $ (M) $706
Avg Volume 30 day 37,641
Avg Volume 90 day 35,651
Volume Trend 5.58%
Comp Volume Trend -40.19%
Correlation & Volatility
Price Correlation (1yr)
vs. S&P 500 (TR)
69.0%
Price Correlation (1yr)
vs. CEFA's 12 Major CEF Sectors Index
74.0%
Price Correlation (1yr)
vs. CEFA's Convertible Bond Index
88.0%
Most Correlated Peer (Mk Pr): ECF 94.0%
NAV - Price Correlation (30 d) 93.8%
NAV - Price Correlation (90 d) 99.0%
NAV - Price Correlation (1 Yr) 93.9%
Price St Dev (1Yr) 37.6%
NAV St Dev (1Yr) 22.3%
Earnings
Earnings / Share (10/31/19) $0.034
Earn Coverage 11.55%
Earnings Trend Up
UNII / Share (10/31/19) $-1.434
Rel UNII -516.58
UNII Trend Down
Bond Specific Data
Maturity 4.70
Duration
Credit Rating (rbo) BB
Investment Grade 0%
Non Investment Grade 1.55%
Unrated Bonds 98.45%
Performance
NAV Beta (2yr)
vs. S&P 500 (TR)
0.91
NAV Beta (2yr)
vs. CEFA's 12 Major CEF Sectors Index
1.07
NAV Beta (2yr)
vs. CEFA's Convertible Bond Index
0.91

DISCLOSURES:

CEFData.com makes data for the universe of closed-end funds (CEFs) and business development companies (BDCs) available to its users. This material is not intended to be relied upon as investment advice or recommendations, does not constitute a solicitation to buy or sell securities and should not be considered specific legal, investment or tax advice. This site does not list all the risks associated with each fund. Investors should contact a fund’s sponsor for fund-specific risk information and/or contact a financial advisor before investing.

NOTES: Distribution type sourced from CEFdata.com. For specific information about a fund's distribution sources, visit the fund sponsor's website.

The following information applies to closed-end funds and business development companies in general: Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation (FDIC). Shares of closed-end funds (CEFs) and business development companies (BDCs) are subject to investment risks, including the possible loss of principal invested. There can be no assurance that fund objectives will be achieved. Closed-end funds and business development companies frequently trade at a discount to their net asset value. NAV returns are net of fund expenses, and assume reinvestment of distributions.

This material is presented for informational purposes only. Under no circumstances is it to be considered an offer to sell, or a solicitation to buy any investment referred to on this page. While the information contained herein is from sources believed reliable, we do not represent that it is accurate or complete and it should not be relied upon as such. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal. Returns are presented gross of investment management fees and other appropriate fees (i.e. commissions, custodial fees, etc.).

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