Sprott Focus Trust, Inc. $FUND Position Raised by Sprott Inc.

Key Points

• Sprott Inc. increased its stake in Sprott Focus Trust, Inc. by 1.0% during the first quarter, making it the firm's second largest position, comprising about 6.0% of its holdings.
• The firm has recently declared a quarterly dividend of $0.128, yielding 6.5%, with an ex-dividend date of June 13th.
• Portfolio Manager W Whitney George purchased 131,416 shares at an average price of $7.41, increasing their position by 4.33%.

Sprott Inc. boosted its position in Sprott Focus Trust, Inc. (NASDAQ:FUND - Free Report) by 1.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,932,818 shares of the financial services provider's stock after purchasing an additional 154,903 shares during the quarter. Sprott Focus Trust makes up approximately 6.0% of Sprott Inc.'s investment portfolio, making the stock its 2nd largest holding. Sprott Inc. owned about 50.10% of Sprott Focus Trust worth $110,652,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Waverly Advisors LLC acquired a new position in shares of Sprott Focus Trust during the fourth quarter valued at about $79,000. NewEdge Advisors LLC purchased a new stake in Sprott Focus Trust in the fourth quarter valued at approximately $82,000. Raymond James Financial Inc. purchased a new stake in Sprott Focus Trust in the fourth quarter valued at approximately $149,000. Hara Capital LLC purchased a new stake in Sprott Focus Trust in the fourth quarter valued at approximately $509,000. Finally, Wells Fargo & Company MN boosted its position in Sprott Focus Trust by 7.6% in the fourth quarter. Wells Fargo & Company MN now owns 86,671 shares of the financial services provider's stock valued at $634,000 after buying an additional 6,126 shares during the last quarter. Institutional investors and hedge funds own 12.63% of the company's stock.

Sprott Focus Trust Price Performance

NASDAQ FUND traded up $0.01 during trading hours on Wednesday, reaching $8.19. The stock had a trading volume of 15,790 shares, compared to its average volume of 38,433. The stock has a fifty day moving average of $7.73 and a 200 day moving average of $7.42. Sprott Focus Trust, Inc. has a 52-week low of $6.21 and a 52-week high of $8.23.

Sprott Focus Trust Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were given a $0.128 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.51 dividend on an annualized basis and a yield of 6.3%.

Insider Buying and Selling

In other news, Portfolio Manager W Whitney George bought 131,416 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were purchased at an average price of $7.41 per share, for a total transaction of $973,792.56. Following the completion of the transaction, the portfolio manager directly owned 3,166,625 shares in the company, valued at approximately $23,464,691.25. This represents a 4.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 52.93% of the stock is currently owned by corporate insiders.

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.