1607 Capital Partners LLC Has $1.22 Million Stock Position in Sprott Focus Trust, Inc. $FUND

Key Points

• 1607 Capital Partners LLC reduced its stake in Sprott Focus Trust by 46.9%, selling 145,405 shares and now holding approximately 0.55% of the company, valued at $1.22 million.
• Other institutional investors also increased their stakes, with Sprott Inc. owning over $110 million worth of shares and Royal Bank of Canada increasing its ownership by 16.7%.
• The company's stock opened at $8.24, slightly above its 12-month low of $6.21 and just below its high of $8.25.

1607 Capital Partners LLC reduced its holdings in Sprott Focus Trust, Inc. (NASDAQ:FUND - Free Report) by 46.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 164,668 shares of the financial services provider's stock after selling 145,405 shares during the quarter. 1607 Capital Partners LLC owned about 0.55% of Sprott Focus Trust worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Raymond James Financial Inc. bought a new position in Sprott Focus Trust during the fourth quarter valued at approximately $149,000. Waverly Advisors LLC acquired a new stake in Sprott Focus Trust during the 4th quarter worth approximately $79,000. Hara Capital LLC acquired a new position in shares of Sprott Focus Trust in the 4th quarter valued at $509,000. Blue Bell Private Wealth Management LLC increased its holdings in Sprott Focus Trust by 7.7% in the first 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 buying an additional 10,322 shares in the last quarter. Finally, LPL Financial LLC increased its stake in Sprott Focus Trust by 11.8% in the first quarter. LPL Financial LLC now owns 433,753 shares of the financial services provider's stock valued at $3,214,000 after purchasing an additional 45,643 shares during the last quarter. Hedge funds and other institutional investors own 12.63% of the company's stock.

Insider Activity at Sprott Focus Trust

In other news, Portfolio Manager W Whitney George purchased 131,416 shares of the business's stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $7.41 per share, for a total transaction of $973,792.56. Following the completion of the acquisition, the portfolio manager owned 3,166,625 shares in the company, valued at approximately $23,464,691.25. The trade was a 4.33% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 52.93% of the company's stock.

Sprott Focus Trust Price Performance

FUND traded up $0.03 during trading on Monday, reaching $8.35. 5,986 shares of the company were exchanged, compared to its average volume of 38,101. The firm has a 50 day moving average of $7.86 and a 200 day moving average of $7.45. Sprott Focus Trust, Inc. has a 52 week low of $6.21 and a 52 week high of $8.37.

Sprott Focus Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Monday, September 15th will be paid a $0.1274 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date is Monday, September 15th.

Sprott Focus Trust Profile

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.