Sprott Focus Trust, Inc. (NASDAQ:FUND) Sees Large Drop in Short Interest

Sprott Focus Trust, Inc. (NASDAQ:FUND) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totaling 24,781 shares, a decrease of 35.4% from the August 15th total of 38,379 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 22,236 shares, the days-to-cover ratio is presently 1.1 days.

Insider Transactions at Sprott Focus Trust

In related news, Portfolio Manager Whitney George purchased 71,664 shares of Sprott Focus Trust stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $9.63 per share, for a total transaction of $690,124.32. Following the transaction, the portfolio manager directly owned 3,326,193 shares in the company, valued at $32,031,238.59. The trade was a 2.20% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 54.83% of the stock is currently owned by insiders.

Institutional Trading of Sprott Focus Trust

A number of institutional investors and hedge funds have recently modified their holdings of the business. Evolve Private Wealth LLC acquired a new stake in Sprott Focus Trust in the 2nd quarter valued at $1,384,000. Royal Bank of Canada grew its position in shares of Sprott Focus Trust by 15.4% during the first quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider’s stock worth $7,655,000 after buying an additional 106,805 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its position in shares of Sprott Focus Trust by 14.9% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 200,923 shares of the financial services provider’s stock worth $1,744,000 after purchasing an additional 26,058 shares during the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sprott Focus Trust during the second quarter worth $191,000. Finally, Bank of America Corp DE acquired a new position in Sprott Focus Trust in the second quarter valued at approximately $170,000. Institutional investors own 12.63% of the company’s stock.

Sprott Focus Trust Stock Down 0.0%

Shares of NASDAQ FUND traded down $0.00 during trading hours on Friday, hitting $10.11. The company’s stock had a trading volume of 5,799 shares, compared to its average volume of 29,703. The business has a 50-day simple moving average of $10.33 and a 200-day simple moving average of $10.01. Sprott Focus Trust has a 12 month low of $7.97 and a 12 month high of $10.99.

Sprott Focus Trust Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be paid a $0.1503 dividend. This represents a $0.60 annualized dividend and a dividend yield of 5.9%. The ex-dividend date is Tuesday, September 15th. This is an increase from Sprott Focus Trust’s previous quarterly dividend of $0.14.

Sprott Focus Trust Company Profile

Sprott Focus Trust, Inc is a closed-end investment company listed on the Nasdaq under the symbol FUND. The fund seeks long-term capital appreciation by investing primarily in a concentrated portfolio of publicly traded equity securities.

The fund’s investment approach emphasizes fundamental research and the selection of companies that its adviser believes offer attractive long-term investment potential. Its portfolio may include businesses across multiple industries and geographic markets, giving shareholders exposure to a diversified selection of domestic and international equities.

Sprott Focus Trust is managed by Sprott Asset Management, a subsidiary of Sprott Inc, an asset manager focused on real assets and alternative investments.