Sprott Focus Trust (NASDAQ:FUND) Stock Price Breaks Below 200-Day Moving Average – Time to Sell?

Sprott Focus Trust, Inc. (NASDAQ:FUND)’s share price crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $9.92 and traded as low as $9.80. Sprott Focus Trust shares last traded at $9.86, with a volume of 14,081 shares trading hands.

Sprott Focus Trust Stock Down 1.8%

The business’s 50 day simple moving average is $10.10 and its 200 day simple moving average is $9.92.

Sprott Focus Trust Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were issued a dividend of $0.1503 per share. This represents a $0.60 annualized dividend and a yield of 6.1%. The ex-dividend date was Tuesday, September 15th. This is a boost from Sprott Focus Trust’s previous quarterly dividend of $0.1424.

Insider Buying and Selling at Sprott Focus Trust

In other news, Portfolio Manager Whitney George bought 122,111 shares of the stock in a transaction dated Tuesday, September 29th. The stock was purchased at an average price of $10.05 per share, for a total transaction of $1,227,215.55. Following the acquisition, the portfolio manager owned 3,375,936 shares of the company’s stock, valued at $33,928,156.80. The trade was a 3.75% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 54.83% of the company’s stock.

Hedge Funds Weigh In On Sprott Focus Trust

A number of large investors have recently bought and sold shares of FUND. Hara Capital LLC bought a new position in shares of Sprott Focus Trust in the second quarter worth about $80,000. Readystate Asset Management LP bought a new stake in Sprott Focus Trust during the 2nd quarter valued at about $134,000. Bank of America Corp DE bought a new stake in Sprott Focus Trust during the 2nd quarter valued at about $170,000. Northwestern Mutual Wealth Management Co. bought a new stake in Sprott Focus Trust during the 2nd quarter valued at about $191,000. Finally, Acorn Wealth Advisors LLC boosted its position in 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 valued at $1,158,000 after buying an additional 3,244 shares during the period. Hedge funds and other institutional investors own 12.63% of the company’s stock.

About Sprott Focus Trust

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.