Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Grows By 129.4%

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

Insider Buying and Selling at Sprott Focus Trust

In other Sprott Focus Trust news, Portfolio Manager W Whitney George sold 26,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.58, for a total transaction of $197,080.00. Following the transaction, the portfolio manager now owns 321,114 shares in the company, valued at approximately $2,434,044.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 50.59% of the company’s stock.

Hedge Funds Weigh In On Sprott Focus Trust

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

Sprott Focus Trust Stock Down 0.8 %

FUND stock traded down $0.06 during trading hours on Wednesday, hitting $7.92. 21,147 shares of the stock were exchanged, compared to its average volume of 33,289. The company has a 50-day simple moving average of $7.74 and a two-hundred day simple moving average of $7.74. Sprott Focus Trust has a 12 month low of $7.25 and a 12 month high of $8.12.

Sprott Focus Trust Increases Dividend

The firm also recently announced 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 is an increase from Sprott Focus Trust’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Monday, September 16th. This represents a $0.52 annualized dividend and a yield of 6.57%.

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.