4/A: Mario Gabelli Corrects Form 4 Filing: Reports Sale of 4,000 Bancroft Fund Shares

Mario Gabelli, a director and control person of the adviser for Bancroft Fund Ltd, amended a previous Form 4 filing to correct the number of common shares sold on March 28, 2024.

Summary

• Mario J. Gabelli, a director of Bancroft Fund Ltd, filed an amended Form 4 to correct a previously reported transaction.
• The amendment clarifies that 4,000 common shares were sold on March 28, 2024, at a price of $15.8981 per share, instead of the initially reported 2,000 shares.
• Following the transaction, Gabelli directly owns 135,000 common shares.
• Additionally, Gabelli indirectly owns 33,000 shares through Associated Capital Group, Inc. (ACG), where he serves as Executive Chair and controlling shareholder.
• Gabelli disclaims beneficial ownership of the ACG shares exceeding his indirect pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing correcting a previous error. It doesn't inherently convey positive or negative sentiment.

Management Comments

• Mario J. Gabelli disclaims beneficial ownership of the shares held by Associated Capital Group, Inc. (ACG) which are in excess of his indirect pecuniary interest.

Industry Context

Form 4 filings are standard practice for reporting transactions by company insiders, providing transparency to investors regarding ownership changes.

Stakeholder Impact

• The correction provides accurate information to shareholders regarding insider transactions.

Key Dates