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

Key Points

• Sprott Focus Trust shares fell below their 200-day moving average of $9.92, reaching $9.80 before closing at $9.86 on trading volume of 14,081 shares.
• The trust increased its quarterly dividend to $0.1503 per share, equivalent to $0.60 annually and a 6.1% yield.
• Portfolio Manager Whitney George purchased 122,111 shares worth approximately $1.23 million, while insiders collectively own 54.83% of the stock; institutional investors own 12.63%.

Shares of Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) crossed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $9.92 and traded as low as $9.80. Sprott Focus Trust shares last traded at $9.86, with a volume of 14,081 shares trading hands.

Sprott Focus Trust Price Performance

The stock's 50-day moving average is $10.10 and its 200 day moving average is $9.92.

Sprott Focus Trust Increases Dividend

The firm also recently declared 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 annualized dividend and a dividend yield of 6.1%. This is an increase 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 other Sprott Focus Trust news, Portfolio Manager Whitney George purchased 122,111 shares of the company's stock in a transaction dated Tuesday, September 29th. The shares were bought at an average price of $10.05 per share, with a total value of $1,227,215.55. Following the completion of the transaction, 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 position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 54.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Sprott Focus Trust

A number of large investors have recently bought and sold shares of FUND. Royal Bank of Canada increased its position in shares of Sprott Focus Trust by 15.4% during the first quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider's stock worth $7,655,000 after acquiring an additional 106,805 shares in the last quarter. Evolve Private Wealth LLC acquired a new stake in shares of Sprott Focus Trust during the second quarter worth $1,384,000. Blue Bell Private Wealth Management LLC raised its holdings in shares of Sprott Focus Trust by 2.3% during the third quarter. Blue Bell Private Wealth Management LLC now owns 243,279 shares of the financial services provider's stock worth $2,357,000 after acquiring an additional 5,444 shares during the period. Readystate Asset Management LP bought a new stake in Sprott Focus Trust in the 2nd quarter valued at $134,000. Finally, Bank of America Corp DE bought a new stake in Sprott Focus Trust in the 2nd quarter valued at $170,000. 12.63% of the stock is owned by institutional investors.

Sprott Focus Trust Company Profile

Sprott Focus Trust, Inc is a diversified, closed-end management investment company listed on Nasdaq under the symbol FUND. Its investment objective is long-term capital appreciation. Rather than operating as a conventional business, the trust pools investor capital and invests it in a portfolio of publicly traded securities.

The trust generally follows a focused, value-oriented investment approach and may invest across industries and geographic regions. Its portfolio can include common stocks and other equity-related securities of companies in the United States, Canada and other international markets.

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