Shaker Financial Services LLC Sells 58,062 Shares of Sprott Focus Trust, Inc. (NASDAQ:FUND)

Key Points

• Shaker Financial Services LLC reduced its stake in Sprott Focus Trust by 15.5%, owning $2.35 million in shares following the sale of 58,062 shares during the first quarter.
• Several hedge funds increased their stakes in Sprott Focus Trust, including Wells Fargo & Company MN, which raised its investment by 7.6% during the fourth quarter.
• Sprott Focus Trust recently announced a quarterly dividend of $0.128 per share, translating to an annualized dividend yield of 6.7%.

Shaker Financial Services LLC decreased its holdings in Sprott Focus Trust, Inc. (NASDAQ:FUND - Free Report) by 15.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 317,148 shares of the financial services provider's stock after selling 58,062 shares during the period. Shaker Financial Services LLC owned approximately 1.06% of Sprott Focus Trust worth $2,350,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Sprott Focus Trust by 7.6% in the 4th quarter. Wells Fargo & Company MN now owns 86,671 shares of the financial services provider's stock worth $634,000 after acquiring an additional 6,126 shares in the last quarter. Blue Bell Private Wealth Management LLC increased its stake in Sprott Focus Trust by 7.7% during 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 in the last quarter. Waverly Advisors LLC bought a new stake in Sprott Focus Trust during the 4th quarter valued at about $79,000. NewEdge Advisors LLC bought a new stake in Sprott Focus Trust during the 4th quarter valued at about $82,000. Finally, Raymond James Financial Inc. bought a new stake in Sprott Focus Trust during the 4th quarter valued at about $149,000. Hedge funds and other institutional investors own 12.63% of the company's stock.

Insider Activity

In other news, Portfolio Manager W Whitney George purchased 131,416 shares of the stock in a transaction on Monday, June 30th. The shares were acquired at an average price of $7.41 per share, with a total value of $973,792.56. Following the completion of the acquisition, the portfolio manager directly owned 3,166,625 shares of the company's stock, valued at $23,464,691.25. This trade represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 50.59% of the company's stock.

Sprott Focus Trust Stock Performance

Shares of FUND stock traded up $0.04 during trading hours on Friday, reaching $7.76. The company had a trading volume of 9,061 shares, compared to its average volume of 35,332. The business has a fifty day moving average price of $7.60 and a 200-day moving average price of $7.40. Sprott Focus Trust, Inc. has a one year low of $6.21 and a one year high of $8.23.

Sprott Focus Trust Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.128 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.6%.

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.