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

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the target of a significant decrease in short interest in the month of August. As of August 31st, there was short interest totaling 24,781 shares, a decrease of 35.4% from the August 15th total of 38,379 shares. Currently, 0.2% of the shares of the stock are short sold. Based on an average daily volume of 22,236 shares, the days-to-cover ratio is presently 1.1 days.

Insider Activity at Sprott Focus Trust

In related news, Portfolio Manager Whitney George purchased 71,664 shares of Sprott Focus Trust stock in a transaction dated Monday, June 29th. The stock was bought at an average cost of $9.63 per share, with a total value of $690,124.32. Following the purchase, the portfolio manager owned 3,326,193 shares in the company, valued at approximately $32,031,238.59. The trade was a 2.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 54.83% of the company’s stock.

Institutional Investors Weigh In On Sprott Focus Trust

Hedge funds have recently made changes to their positions in the company. Hara Capital LLC acquired a new stake in shares of Sprott Focus Trust in the second quarter worth $80,000. Readystate Asset Management LP bought a new stake in Sprott Focus Trust in the second quarter worth $134,000. Bank of America Corp DE acquired a new position in Sprott Focus Trust during the second quarter valued at approximately $170,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Sprott Focus Trust in the second quarter worth about $191,000. Finally, Sapient Capital LLC boosted its holdings in Sprott Focus Trust by 1.5% in the 1st quarter. Sapient Capital LLC now owns 82,018 shares of the financial services provider’s stock valued at $782,000 after purchasing an additional 1,195 shares during the period. Hedge funds and other institutional investors own 12.63% of the company’s stock.

Sprott Focus Trust Stock Up 0.3%

Shares of FUND stock traded up $0.03 during mid-day trading on Thursday, hitting $10.16. 9,522 shares of the stock traded hands, compared to its average volume of 29,813. The company’s 50-day simple moving average is $10.32 and its 200-day simple moving average is $10.01. Sprott Focus Trust has a twelve month low of $7.97 and a twelve month high of $10.99.

Sprott Focus Trust Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.1503 per share. The ex-dividend date is Tuesday, September 15th. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.14. This represents a $0.60 dividend on an annualized basis and a yield of 5.9%.

About Sprott Focus Trust

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.