Form 4: Mario Gabelli Reports Sale of Bancroft Fund Ltd Shares
SEC Form 4 Filing
Mario Gabelli, a director and control person of the adviser for Bancroft Fund Ltd, reports selling 1,500 common shares on December 23, 2024.
Summary
- Mario J. Gabelli, a director of Bancroft Fund Ltd and a control person of the adviser, reported a transaction involving the company's common shares.
- On December 23, 2024, Gabelli sold 1,500 common shares at a price of $17.7382 per share.
- Following the transaction, Gabelli directly owns 131,000 common shares and indirectly owns 28,000 common shares through Associated Capital Group, Inc. (ACG).
- Gabelli disclaims beneficial ownership of the shares held by ACG which are in excess of his indirect pecuniary interest.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Management Comments
- Mr. Gabelli has less than a 100% interest in ACG and disclaims beneficial ownership of the shares held by it 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 the market.
Key Dates
| Date | Description |
|---|---|
| 12/23/2024 | Date of transaction: Sale of 1,500 common shares. |
| 12/26/2024 | Date of signature for the report. |
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