Insider Buying: Sprott Focus Trust (NASDAQ:FUND) Portfolio Manager Buys 120,070 Shares of Stock

Key Points

• Sprott Focus Trust's Portfolio Manager, W Whitney George, purchased 120,070 shares of the company's stock on September 29th, increasing his total holdings to approximately $26.3 million.
• The firm cut its quarterly dividend to $0.1274, resulting in a yield of 6.1%, with the payment made on September 29th to shareholders of record as of September 15th.
• Recent trading activity shows increased institutional interest, with notable boosts to positions from firms like Royal Bank of Canada and Shaker Financial Services, raising their stakes significantly during recent quarters.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) Portfolio Manager W Whitney George bought 120,070 shares of the stock in a transaction dated Monday, September 29th. The stock was bought at an average price of $8.18 per share, with a total value of $982,172.60. Following the purchase, the portfolio manager owned 3,215,943 shares of the company's stock, valued at approximately $26,306,413.74. This represents a 3.88% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

W Whitney George also recently made the following trade(s):

• On Thursday, August 28th, W Whitney George sold 29,800 shares of Sprott Focus Trust stock. The shares were sold at an average price of $8.18, for a total value of $243,764.00.
• On Monday, September 29th, W Whitney George bought 59,537 shares of Sprott Focus Trust stock. The stock was bought at an average price of $8.18 per share, with a total value of $487,012.66.

Sprott Focus Trust Price Performance

NASDAQ FUND traded up $0.01 during mid-day trading on Wednesday, reaching $8.32. 15,315 shares of the company's stock traded hands, compared to its average volume of 37,469. The company has a fifty day simple moving average of $8.05 and a 200-day simple moving average of $7.55. Sprott Focus Trust, Inc. has a 1-year low of $6.21 and a 1-year high of $8.43.

Sprott Focus Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 15th were issued a $0.1274 dividend. This represents a $0.51 dividend on an annualized basis and a yield of 6.1%. The ex-dividend date of this dividend was Monday, September 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sprott Inc. boosted its position in Sprott Focus Trust by 1.0% during the 1st quarter. Sprott Inc. now owns 14,932,818 shares of the financial services provider's stock valued at $110,652,000 after purchasing an additional 154,903 shares during the period. Royal Bank of Canada boosted its position in Sprott Focus Trust by 16.7% during the 1st quarter. Royal Bank of Canada now owns 579,065 shares of the financial services provider's stock worth $4,291,000 after acquiring an additional 82,892 shares during the period. Shaker Financial Services LLC boosted its position in Sprott Focus Trust by 44.9% during the 2nd quarter. Shaker Financial Services LLC now owns 459,701 shares of the financial services provider's stock worth $3,439,000 after acquiring an additional 142,553 shares during the period. LPL Financial LLC boosted its position in Sprott Focus Trust by 11.8% during the 1st quarter. LPL Financial LLC now owns 433,753 shares of the financial services provider's stock worth $3,214,000 after acquiring an additional 45,643 shares during the period. Finally, Blue Bell Private Wealth Management LLC boosted its position 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 worth $1,067,000 after acquiring an additional 10,322 shares during the period. Institutional investors and hedge funds own 12.63% of the company's stock.

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.

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