Sprott Focus Trust (NASDAQ:FUND) Portfolio Manager W Whitney George Acquires 122,111 Shares of Company Stock

Key Points

• Portfolio manager W. Whitney George purchased 122,111 shares of Sprott Focus Trust at an average price of $10.05, investing approximately $1.23 million and increasing his ownership to 3.38 million shares.
• FUND shares traded at $9.61, below their 50-day moving average of $10.34 but within a 52-week range of $7.97 to $10.99.
• Sprott Focus Trust raised its quarterly dividend to $0.1503 per share, equivalent to an annualized $0.60 payout and a 6.3% yield.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) Portfolio Manager Whitney George bought 122,111 shares of the stock in a transaction dated Tuesday, September 29th. The stock was purchased at an average price of $10.05 per share, with a total value of $1,227,215.55. Following the purchase, the portfolio manager owned 3,375,936 shares in the company, valued at $33,928,156.80. This trade represents a 3.75% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, September 29th, Whitney George purchased 59,702 shares of Sprott Focus Trust stock. The shares were purchased at an average price of $10.05 per share, for a total transaction of $600,005.10.

Sprott Focus Trust Price Performance

FUND stock traded down $0.08 during midday trading on Thursday, hitting $9.61. The stock had a trading volume of 16,253 shares, compared to its average volume of 29,218. The business has a 50-day moving average of $10.34 and a two-hundred day moving average of $10.02. Sprott Focus Trust, Inc. has a 52-week low of $7.97 and a 52-week high of $10.99.

Sprott Focus Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a $0.1503 dividend. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 6.3%. This is a boost from Sprott Focus Trust's previous quarterly dividend of $0.1424.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its holdings in Sprott Focus Trust by 15.4% in the first quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider's stock worth $7,655,000 after purchasing an additional 106,805 shares during the period. Evolve Private Wealth LLC bought a new stake in shares of Sprott Focus Trust in the 2nd quarter worth approximately $1,384,000. Readystate Asset Management LP purchased a new stake in shares of Sprott Focus Trust in the 2nd quarter worth approximately $134,000. Acorn Wealth Advisors LLC increased its position in Sprott Focus Trust by 7.8% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 45,010 shares of the financial services provider's stock valued at $1,158,000 after buying an additional 3,244 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in Sprott Focus Trust during the 2nd quarter valued at approximately $170,000. 12.63% of the stock is owned by hedge funds and other institutional investors.

Sprott Focus Trust Company Profile

Sprott Focus Trust, Inc is a closed-end investment company listed on the Nasdaq under the symbol FUND. The fund seeks long-term capital appreciation by investing primarily in a concentrated portfolio of publicly traded equity securities.

The fund's investment approach emphasizes fundamental research and the selection of companies that its adviser believes offer attractive long-term investment potential. Its portfolio may include businesses across multiple industries and geographic markets, giving shareholders exposure to a diversified selection of domestic and international equities.

Sprott Focus Trust is managed by Sprott Asset Management, a subsidiary of Sprott Inc, an asset manager focused on real assets and alternative investments.

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