Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Drops By 35.4%

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

Sprott Focus Trust Stock Up 0.3%

Sprott Focus Trust stock traded up $0.03 during midday trading on Thursday, hitting $10.16. The stock had a trading volume of 9,522 shares, compared to its average volume of 29,813. The business has a fifty day moving average price of $10.32 and a 200 day moving average price 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th will be issued a $0.1503 dividend. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 5.9%.

Insider Buying and Selling at Sprott Focus Trust

In related news, Portfolio Manager Whitney George bought 71,664 shares of the business’s stock in a transaction dated Monday, June 29th. The shares were acquired at an average price of $9.63 per share, for a total transaction of $690,124.32. Following the purchase, the portfolio manager owned 3,326,193 shares in the company, valued at $32,031,238.59. This trade represents a 2.20% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 54.83% of the company’s stock.

Institutional Investors Weigh In On Sprott Focus Trust

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its holdings in shares of Sprott Focus Trust by 15.4% in the 1st quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider’s stock valued at $7,655,000 after buying an additional 106,805 shares during the period. Evolve Private Wealth LLC acquired a new stake in Sprott Focus Trust during the second quarter worth about $1,384,000. Readystate Asset Management LP bought a new position in Sprott Focus Trust in the second quarter worth about $134,000. Acorn Wealth Advisors LLC lifted its holdings in Sprott Focus Trust by 7.8% in the second quarter. Acorn Wealth Advisors LLC now owns 45,010 shares of the financial services provider’s stock worth $1,158,000 after acquiring an additional 3,244 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in Sprott Focus Trust in the second quarter valued at approximately $170,000. 12.63% of the stock is owned by institutional investors and hedge funds.

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.