Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $10.02 and traded as low as $9.92. Sprott Focus Trust shares last traded at $9.91, with a volume of 17,037 shares changing hands.
Sprott Focus Trust Stock Performance
The stock has a 50 day simple moving average of $10.35 and a two-hundred day simple moving average of $10.02.
Sprott Focus Trust Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.1503 per share. This represents a $0.60 annualized dividend and a yield of 6.1%. This is a positive change from Sprott Focus Trust's previous quarterly dividend of $0.1424. The ex-dividend date of this dividend is Tuesday, September 15th.
Insiders Place Their Bets
In related news, Portfolio Manager Whitney George purchased 71,664 shares of Sprott Focus Trust stock in a transaction that occurred on Monday, June 29th. The stock was bought at an average cost of $9.63 per share, for a total transaction of $690,124.32. Following the completion of the transaction, the portfolio manager owned 3,326,193 shares in the company, valued at $32,031,238.59. The trade was a 2.20% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 54.83% of the company's stock.
Institutional Investors Weigh In On Sprott Focus Trust
Hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its holdings in shares of Sprott Focus Trust by 15.4% during the 1st quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider's stock valued at $7,655,000 after purchasing an additional 106,805 shares in the last quarter. Evolve Private Wealth LLC purchased a new stake in Sprott Focus Trust during the second quarter worth $1,384,000. Readystate Asset Management LP acquired a new stake in Sprott Focus Trust during the second quarter valued at $134,000. Acorn Wealth Advisors LLC grew its position in 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 period. Finally, Bank of America Corp DE purchased a new position in Sprott Focus Trust in the second quarter valued at $170,000. Hedge funds and other institutional investors own 12.63% of the company's stock.
About Sprott Focus Trust
(
Get Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Sprott Focus Trust, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sprott Focus Trust wasn't on the list.
While Sprott Focus Trust currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The AI boom is creating opportunities across semiconductors, cloud computing, enterprise software, infrastructure, cybersecurity, and automation.
Inside this report, you’ll find 10 companies positioned to benefit as artificial intelligence moves from hype to real-world deployment and becomes a core growth driver for corporate America.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
