Sprott Focus Trust, Inc. (NASDAQ:FUND) Sees Large Decline in Short Interest

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totaling 9,500 shares, a decline of 33.6% from the September 30th total of 14,300 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 25,400 shares, the short-interest ratio is presently 0.4 days. Based on an average trading volume of 25,400 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the shares of the company are sold short.

Sprott Focus Trust Stock Performance

Shares of NASDAQ:FUND traded down $0.03 on Monday, reaching $8.25. 17,798 shares of the company were exchanged, compared to its average volume of 35,644. The company has a 50-day moving average of $8.29 and a 200-day moving average of $7.76. Sprott Focus Trust has a 1-year low of $6.21 and a 1-year high of $8.49.

Sprott Focus Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 29th. Stockholders of record on Monday, September 15th were given a $0.1274 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.2%.

Insiders Place Their Bets

In other Sprott Focus Trust news, Portfolio Manager W Whitney George bought 120,070 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was acquired at an average cost of $8.18 per share, with a total value of $982,172.60. Following the purchase, the portfolio manager owned 3,215,943 shares in the company, valued at approximately $26,306,413.74. This represents a 3.88% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 52.93% of the company’s stock.

Hedge Funds Weigh In On Sprott Focus Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FUND. Wolverine Asset Management LLC raised its holdings in shares of Sprott Focus Trust by 79.5% in the third quarter. Wolverine Asset Management LLC now owns 4,025 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 1,783 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Sprott Focus Trust by 20.5% in the 1st quarter. NewEdge Advisors LLC now owns 13,500 shares of the financial services provider’s stock valued at $100,000 after buying an additional 2,300 shares during the period. Osaic Holdings Inc. lifted its holdings in shares of Sprott Focus Trust by 203.4% during the 2nd quarter. Osaic Holdings Inc. now owns 50,438 shares of the financial services provider’s stock worth $377,000 after acquiring an additional 33,815 shares during the period. Hara Capital LLC raised its stake in Sprott Focus Trust by 2.1% during the second quarter. Hara Capital LLC now owns 69,126 shares of the financial services provider’s stock worth $517,000 after purchasing an additional 1,430 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in shares of Sprott Focus Trust by 7.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 143,963 shares of the financial services provider’s stock valued at $1,067,000 after purchasing an additional 10,322 shares during the last quarter. Institutional investors and hedge funds own 12.63% of the company’s stock.

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.