Sprott Focus Trust (NASDAQ:FUND) Stock Crosses Below Two Hundred Day Moving Average - Should You Sell?

Key Points

• Sprott Focus Trust shares fell below their 200-day moving average, trading as low as $9.57 versus the $10.06 average, and last changing hands at $9.77.
• The trust increased its quarterly dividend to $0.1503, equivalent to $0.60 annually and a 6.2% yield.
• Portfolio manager Whitney George purchased 122,111 shares worth about $1.23 million, increasing his position by 3.75%; insiders collectively own 54.83% of the stock.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report)'s share price passed below its two hundred day moving average during trading on Thursday. The stock has a two hundred day moving average of $10.06 and traded as low as $9.57. Sprott Focus Trust shares last traded at $9.77, with a volume of 20,429 shares changing hands.

Sprott Focus Trust Price Performance

The firm has a 50-day moving average price of $10.21 and a 200-day moving average price of $10.06.

Sprott Focus Trust Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders 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 6.2%. This is a boost from Sprott Focus Trust's previous quarterly dividend of $0.1424. The ex-dividend date was Tuesday, September 15th.

Insider Activity at Sprott Focus Trust

In related news, Portfolio Manager Whitney George purchased 122,111 shares of the business's stock in a transaction that occurred 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 purchase, the portfolio manager directly owned 3,375,936 shares of the company's stock, valued at approximately $33,928,156.80. This represents a 3.75% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 54.83% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprott Focus Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Essex Financial Services Inc. raised its stake in shares of 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 worth $2,085,000 after purchasing an additional 994 shares during the last quarter. Sapient Capital LLC boosted its position in shares of Sprott Focus Trust by 1.5% during the first quarter. Sapient Capital LLC now owns 82,018 shares of the financial services provider's stock valued at $782,000 after buying an additional 1,195 shares during the last quarter. Acorn Wealth Advisors LLC boosted 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. Hara Capital LLC bought a new stake in Sprott Focus Trust in the 2nd quarter worth about $80,000. Finally, Readystate Asset Management LP bought a new stake in Sprott Focus Trust in the 2nd quarter worth about $134,000. 12.63% of the stock is owned by institutional investors.

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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