Sprott Focus Trust (NASDAQ:FUND) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Sprott Focus Trust, Inc. (NASDAQ:FUND)’s stock price passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.06 and traded as low as $9.57. Sprott Focus Trust shares last traded at $9.77, with a volume of 20,429 shares changing hands.

Sprott Focus Trust Trading Down 0.7%

The stock has a 50-day moving average price of $10.19 and a 200-day moving average price of $10.05.

Sprott Focus Trust Increases Dividend

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

Insider Transactions at Sprott Focus Trust

In other news, Portfolio Manager Whitney George purchased 122,111 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was purchased at an average price of $10.05 per share, with a total value of $1,227,215.55. Following the completion of the purchase, the portfolio manager directly owned 3,375,936 shares in the company, valued at approximately $33,928,156.80. This trade represents a 3.75% increase in their position. The transaction was disclosed in a legal 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

A number of institutional investors have recently made changes to their positions in FUND. Royal Bank of Canada increased its holdings in Sprott Focus Trust by 15.4% during 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 purchasing an additional 106,805 shares during the period. Essex Financial Services Inc. raised its stake in shares of Sprott Focus Trust by 0.5% in the first quarter. Essex Financial Services Inc. now owns 218,586 shares of the financial services provider’s stock worth $2,085,000 after purchasing an additional 994 shares during the last quarter. Evolve Private Wealth LLC purchased a new stake in Sprott Focus Trust in the second quarter worth approximately $1,384,000. Sapient Capital LLC grew its stake in shares of Sprott Focus Trust by 1.5% during 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. Finally, Acorn Wealth Advisors LLC increased its stake in shares of Sprott Focus Trust by 7.8% in the 2nd quarter. Acorn Wealth Advisors LLC now owns 45,010 shares of the financial services provider’s stock worth $1,158,000 after purchasing an additional 3,244 shares in the last quarter. Hedge funds and other institutional investors own 12.63% of the company’s stock.

Sprott Focus Trust Company Profile

Sprott Focus Trust, Inc is a diversified, closed-end management investment company listed on Nasdaq under the symbol FUND. Its investment objective is long-term capital appreciation. Rather than operating as a conventional business, the trust pools investor capital and invests it in a portfolio of publicly traded securities.

The trust generally follows a focused, value-oriented investment approach and may invest across industries and geographic regions. Its portfolio can include common stocks and other equity-related securities of companies in the United States, Canada and other international markets.