Wolverine Asset Management LLC Cuts Holdings in Sprott Focus Trust, Inc. (NASDAQ:FUND)

Key Points

• Wolverine Asset Management LLC reduced its stakes in Sprott Focus Trust by 40.5%, selling 76,383 shares in the first quarter, leaving them with 112,105 shares valued at approximately $831,000.
• Other institutional investors, including LPL Financial LLC and AQR Arbitrage LLC, also increased their holdings, with LPL Financial boosting its position by 11.8%.
• Sprott Focus Trust announced a quarterly dividend of $0.128 per share, which resulted in an annualized dividend of $0.51 and a dividend yield of 6.6%.

Wolverine Asset Management LLC reduced its stake in shares of Sprott Focus Trust, Inc. (NASDAQ:FUND - Free Report) by 40.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 112,105 shares of the financial services provider's stock after selling 76,383 shares during the period. Wolverine Asset Management LLC owned 0.38% of Sprott Focus Trust worth $831,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Waverly Advisors LLC purchased a new stake in shares of Sprott Focus Trust in the fourth quarter valued at $79,000. NewEdge Advisors LLC acquired a new position in Sprott Focus Trust in the 4th quarter valued at about $82,000. Raymond James Financial Inc. purchased a new position in Sprott Focus Trust in the 4th quarter valued at about $149,000. Hara Capital LLC acquired a new stake in shares of Sprott Focus Trust during the 4th quarter worth about $509,000. Finally, Wells Fargo & Company MN boosted its stake in shares of Sprott Focus Trust by 7.6% during the 4th quarter. Wells Fargo & Company MN now owns 86,671 shares of the financial services provider's stock worth $634,000 after purchasing an additional 6,126 shares during the last quarter. Hedge funds and other institutional investors own 12.63% of the company's stock.

Insider Buying and Selling at Sprott Focus Trust

In other Sprott Focus Trust news, Portfolio Manager W Whitney George acquired 131,416 shares of the stock in a transaction dated Monday, June 30th. The stock was acquired at an average price of $7.41 per share, with a total value 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 trade represents a 4.33% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 50.59% of the stock is currently owned by corporate insiders.

Sprott Focus Trust Stock Performance

Shares of NASDAQ:FUND traded down $0.04 during trading on Thursday, reaching $7.93. The stock had a trading volume of 10,877 shares, compared to its average volume of 39,177. The business has a fifty day moving average price of $7.64 and a 200-day moving average price of $7.40. Sprott Focus Trust, Inc. has a fifty-two week low of $6.21 and a fifty-two week high of $8.23.

Sprott Focus Trust Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.128 per share. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.5%. The ex-dividend date of this dividend was Friday, June 13th.

Sprott Focus Trust Company 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.