MORRISTOWN, NJ, Nov. 25, 2009 (Marketwire) --
MORRISTOWN, NJ -- (Marketwire) -- 11/25/09 -- Bancroft Fund Ltd. (NYSE Amex: BCV) announced today that an NAV (Net Asset Value) error occurred on November 24, 2009. The NAV as reported was $17.14. The NAV should have been $16.88.
The $0.256 dividend that is payable on December 28, 2009 to shareholders of record on November 27, 2009 went ex-dividend on Tuesday, November 24, 2009. The NAV should have been reduced by the amount of the dividend but inadvertently was not.
Bancroft Fund Ltd. operates as a closed-end, diversified management investment company and invests primarily in convertible securities, with the objectives of providing 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. Its shares are traded on the NYSE Amex Equities exchange under the ticker symbol BCV.
CUSIP# 059 695 106
For further information, please contact:
Gary I. Levine
Chief Financial Officer
Ph. (973) 631-1177
Email Contact
website: www.bancroftfund.com
