Wolverine Asset Management LLC Trims Stock Position 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 lessened its stake in Sprott Focus Trust, Inc. (NASDAQ:FUND - Free Report) by 40.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of FUND. Waverly Advisors LLC acquired a new position in Sprott Focus Trust in the fourth quarter valued at $79,000. NewEdge Advisors LLC purchased a new position in shares of Sprott Focus Trust during the fourth quarter worth about $82,000. Raymond James Financial Inc. purchased a new position in shares of Sprott Focus Trust during the fourth quarter worth about $149,000. Hara Capital LLC purchased a new position in shares of Sprott Focus Trust during the fourth quarter worth about $509,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Sprott Focus Trust by 7.6% during the fourth quarter. Wells Fargo & Company MN now owns 86,671 shares of the financial services provider's stock worth $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.

Insider Activity

In other news, Portfolio Manager W Whitney George purchased 131,416 shares of the company's stock in a transaction dated Monday, June 30th. The shares were acquired at an average cost of $7.41 per share, for a total transaction of $973,792.56. Following the completion of the purchase, the portfolio manager directly owned 3,166,625 shares in the company, valued at $23,464,691.25. The trade was a 4.33% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 50.59% of the stock is currently owned by corporate insiders.

Sprott Focus Trust Stock Performance

Shares of NASDAQ FUND traded up $0.14 during midday trading on Tuesday, reaching $7.88. 16,686 shares of the company were exchanged, compared to its average volume of 32,923. Sprott Focus Trust, Inc. has a 1 year low of $6.21 and a 1 year high of $8.23. The stock has a fifty day simple moving average of $7.63 and a 200 day simple moving average of $7.40.

Sprott Focus Trust Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.128 per share. 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 6.5%.

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.