Sprott Focus Trust, Inc. (NASDAQ:FUND) Short Interest Update

Sprott Focus Trust, Inc. (NASDAQ:FUND) saw a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 11,700 shares, a growth of 129.4% from the October 15th total of 5,100 shares. Based on an average daily volume of 41,300 shares, the short-interest ratio is currently 0.3 days.

Sprott Focus Trust Stock Performance

NASDAQ:FUND traded down $0.04 on Friday, reaching $7.78. The stock had a trading volume of 47,826 shares, compared to its average volume of 33,422. Sprott Focus Trust has a 12-month low of $7.25 and a 12-month high of $8.12. The company has a 50-day moving average of $7.75 and a 200 day moving average of $7.74.

Sprott Focus Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.1301 per share. This represents a $0.52 dividend on an annualized basis and a yield of 6.69%. The ex-dividend date was Monday, September 16th. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.13.

Insider Activity

In other news, Portfolio Manager W Whitney George sold 26,000 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $7.58, for a total value of $197,080.00. Following the completion of the transaction, the portfolio manager now directly owns 321,114 shares in the company, valued at approximately $2,434,044.12. This represents a 7.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 50.59% of the company’s stock.

Institutional Investors Weigh In On Sprott Focus Trust

Several hedge funds and other institutional investors have recently bought and sold shares of FUND. Cetera Advisors LLC acquired a new stake in shares of Sprott Focus Trust during the first quarter worth approximately $1,867,000. Wolverine Asset Management LLC boosted its stake in Sprott Focus Trust by 4.8% during the 2nd quarter. Wolverine Asset Management LLC now owns 134,938 shares of the financial services provider’s stock valued at $1,009,000 after acquiring an additional 6,198 shares during the last quarter. Shaker Financial Services LLC grew its holdings in Sprott Focus Trust by 10.2% during the 2nd quarter. Shaker Financial Services LLC now owns 995,343 shares of the financial services provider’s stock worth $7,466,000 after acquiring an additional 92,476 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in shares of Sprott Focus Trust by 392.5% in the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 63,348 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 50,485 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new position in shares of Sprott Focus Trust during the second quarter worth about $1,226,000. 12.63% of the stock is currently owned by hedge funds and other institutional investors.

About Sprott Focus Trust

Sprott Focus Trust, Inc is a closed-ended equity mutual fund launched and managed by Sprott Asset Management, LP. The fund is co-managed by Sprott Asset Management USA Inc It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.