Sprott Focus Trust (NASDAQ:FUND) Stock Breaks Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• Sprott Focus Trust shares fell below their 200-day moving average of $10.03, reaching an intraday low of $9.50 before last trading at $9.5810.
• The trust increased its quarterly dividend to $0.1503 per share, or $0.60 annualized, representing a 6.3% yield.
• Portfolio Manager Whitney George bought 122,111 shares worth approximately $1.23 million, while insiders collectively own 54.83% of the company.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) shares crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.03 and traded as low as $9.50. Sprott Focus Trust shares last traded at $9.5810, with a volume of 9,231 shares traded.

Sprott Focus Trust Stock Up 0.2%

The business's fifty day moving average is $10.31 and its two-hundred day moving average is $10.03.

Sprott Focus Trust Increases Dividend

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

Insiders Place Their Bets

In related news, Portfolio Manager Whitney George purchased 122,111 shares of the business's 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 acquisition, the portfolio manager directly 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 54.83% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprott Focus Trust

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Essex Financial Services Inc. raised its stake in Sprott Focus Trust by 0.5% in the first quarter. Essex Financial Services Inc. now owns 218,586 shares of the financial services provider's stock valued at $2,085,000 after buying an additional 994 shares in the last quarter. Sapient Capital LLC raised its stake in Sprott Focus Trust by 1.5% during the 1st quarter. Sapient Capital LLC now owns 82,018 shares of the financial services provider's stock worth $782,000 after acquiring an additional 1,195 shares in the last quarter. Acorn Wealth Advisors LLC lifted its position in Sprott Focus Trust by 7.8% in 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 acquiring an additional 3,244 shares during the last quarter. Hara Capital LLC purchased a new stake in Sprott Focus Trust in the second quarter valued at $80,000. Finally, Readystate Asset Management LP acquired a new position in Sprott Focus Trust in the second quarter valued at $134,000. Hedge funds and other institutional investors own 12.63% of the company's stock.

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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