Sprott Focus Trust, Inc. (NASDAQ:FUND) Stock Short Interest Drops 40.2%

Sprott Focus Trust, Inc. (NASDAQ:FUND) saw a significant decrease in short interest during the month of September. As of September 30th, there was short interest totaling 19,211 shares, a decrease of 40.2% from the September 15th total of 32,102 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 18,022 shares, the days-to-cover ratio is presently 1.1 days.

Sprott Focus Trust Stock Performance

NASDAQ:FUND traded down $0.06 during mid-day trading on Friday, hitting $9.70. 20,367 shares of the company traded hands, compared to its average volume of 18,339. The stock’s fifty day moving average price is $10.27 and its 200-day moving average price is $10.05. Sprott Focus Trust has a one year low of $7.97 and a one year high of $10.99.

Sprott Focus Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a dividend of $0.1503 per share. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.1424. The ex-dividend date was Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.2%.

Insider Activity at Sprott Focus Trust

In other Sprott Focus Trust news, Portfolio Manager Whitney George bought 122,111 shares of the business’s stock in a transaction that occurred on Tuesday, September 29th. The stock was bought at an average cost of $10.05 per share, for a total transaction of $1,227,215.55. Following the completion of the transaction, the portfolio manager owned 3,375,936 shares of the company’s stock, valued at $33,928,156.80. This represents a 3.75% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 54.83% of the stock is owned by insiders.

Institutional Trading of Sprott Focus Trust

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Readystate Asset Management LP purchased a new stake in shares of Sprott Focus Trust in the second quarter worth about $134,000. Acorn Wealth Advisors LLC increased its stake in Sprott Focus Trust by 7.8% during 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. Bank of America Corp DE purchased a new position in shares of Sprott Focus Trust in the 2nd quarter worth approximately $170,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Sprott Focus Trust during the 2nd quarter valued at $191,000. Finally, Evolve Private Wealth LLC purchased a new position in Sprott Focus Trust during the second quarter worth $1,384,000. Institutional investors own 12.63% of the company’s stock.

Sprott Focus Trust Company Profile

Sprott Focus Trust (NASDAQ: FUND) is a closed-end investment company that seeks long-term capital appreciation for its shareholders. Rather than operating a commercial business, the trust pools investor capital and invests it in a concentrated portfolio of publicly traded securities.

The fund primarily invests in common stocks and other equity securities. Its portfolio may include companies from a variety of industries and geographic markets, including issuers outside the United States.