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

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Sprott Focus Trust, Inc. (NASDAQ:FUNDGet Rating) was the recipient of a significant increase in short interest in July. As of July 31st, there was short interest totalling 22,700 shares, an increase of 14.1% from the July 15th total of 19,900 shares. Based on an average trading volume of 49,200 shares, the days-to-cover ratio is presently 0.5 days.

Insider Activity

In other news, Portfolio Manager W Whitney George bought 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 18th. The shares were purchased at an average price of $8.22 per share, for a total transaction of $164,400.00. Following the completion of the transaction, the portfolio manager now directly owns 40,000 shares in the company, valued at $328,800. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 39,384 shares of company stock worth $317,574 over the last 90 days. 45.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sprott Focus Trust

Hedge funds have recently bought and sold shares of the stock. HighTower Advisors LLC boosted its position in Sprott Focus Trust by 24.2% in the 1st quarter. HighTower Advisors LLC now owns 23,852 shares of the financial services provider’s stock worth $218,000 after purchasing an additional 4,650 shares in the last quarter. Rothschild Investment Corp IL boosted its position in Sprott Focus Trust by 26.6% in the 1st quarter. Rothschild Investment Corp IL now owns 24,199 shares of the financial services provider’s stock worth $219,000 after purchasing an additional 5,081 shares in the last quarter. Advisor Group Holdings Inc. lifted its position in shares of Sprott Focus Trust by 52.4% during the 4th quarter. Advisor Group Holdings Inc. now owns 37,350 shares of the financial services provider’s stock valued at $321,000 after buying an additional 12,841 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Sprott Focus Trust by 13.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 39,967 shares of the financial services provider’s stock valued at $363,000 after buying an additional 4,619 shares in the last quarter. Finally, UBS Group AG lifted its position in shares of Sprott Focus Trust by 1.8% during the 2nd quarter. UBS Group AG now owns 104,154 shares of the financial services provider’s stock valued at $787,000 after buying an additional 1,833 shares in the last quarter. Hedge funds and other institutional investors own 18.26% of the company’s stock.

Sprott Focus Trust Price Performance

NASDAQ FUND traded up $0.15 during trading hours on Friday, reaching $8.37. The stock had a trading volume of 23,874 shares, compared to its average volume of 31,406. Sprott Focus Trust has a 52-week low of $7.38 and a 52-week high of $9.51. The stock has a fifty day moving average of $7.89 and a 200 day moving average of $8.39.

Sprott Focus Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Monday, June 13th were given a $0.1389 dividend. This represents a $0.56 annualized dividend and a yield of 6.64%. The ex-dividend date of this dividend was Friday, June 10th. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.14.

About Sprott Focus Trust

(Get Rating)
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.

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