Sprott Focus Trust, Inc. (NASDAQ:FUND) Shares Shorted: Short Interest Down 40.2% in September

Key Points

• Short interest fell 40.2% to 19,211 shares as of September 30, representing 0.1% of shares outstanding and a days-to-cover ratio of 1.1.
• Sprott Focus Trust raised its quarterly dividend to $0.1503 per share, equivalent to $0.60 annually and a 6.2% yield.
• Portfolio manager Whitney George bought 122,111 shares for approximately $1.23 million, increasing his stake by 3.75%; insiders collectively own 54.83% of the company.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 19,211 shares, a decrease of 40.2% from the September 15th total of 32,102 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average daily volume of 18,022 shares, the days-to-cover ratio is currently 1.1 days.

Sprott Focus Trust Stock Down 0.6%

NASDAQ FUND opened at $9.71 on Thursday. The company has a fifty day simple moving average of $10.29 and a 200 day simple moving average of $10.05. Sprott Focus Trust has a 1 year low of $7.97 and a 1 year high of $10.99.

Sprott Focus Trust Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 15th were given a dividend of $0.1503 per share. The ex-dividend date of this dividend was Tuesday, September 15th. This represents a $0.60 dividend on an annualized basis and a yield of 6.2%. This is a positive change from Sprott Focus Trust's previous quarterly dividend of $0.1424.

Insider Transactions at Sprott Focus Trust

In related news, Portfolio Manager Whitney George purchased 122,111 shares of the stock in a transaction on Tuesday, September 29th. The shares were bought at an average price of $10.05 per share, for a total transaction of $1,227,215.55. Following the completion of the acquisition, the portfolio manager directly owned 3,375,936 shares in the company, valued at approximately $33,928,156.80. This trade represents a 3.75% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 54.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Sprott Focus Trust

Hedge funds and other institutional investors have recently made changes to their positions in the business. Readystate Asset Management LP acquired a new position in Sprott Focus Trust during the 2nd quarter valued at $134,000. Acorn Wealth Advisors LLC raised its position in shares of Sprott Focus Trust by 7.8% during the second 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 during the last quarter. Bank of America Corp DE acquired a new position in shares of Sprott Focus Trust during the second quarter valued at about $170,000. Northwestern Mutual Wealth Management Co. bought a new position in Sprott Focus Trust during the second quarter valued at about $191,000. Finally, Evolve Private Wealth LLC acquired a new position in Sprott Focus Trust in the 2nd quarter valued at approximately $1,384,000. 12.63% of the stock is owned by institutional investors and hedge funds.

About Sprott Focus Trust

Sprott Focus Trust NASDAQ: FUND is a closed-end investment company that seeks long-term capital appreciation for its shareholders. Rather than operating a commercial business, the trust pools investor capital and invests it in a concentrated portfolio of publicly traded securities.

The fund primarily invests in common stocks and other equity securities. Its portfolio may include companies from a variety of industries and geographic markets, including issuers outside the United States.

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