Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Expands By 210.4%

Key Points

• Short interest surged 210.4% to 38,704 shares as of July 15, up from 12,468 shares on June 30. Despite the increase, only 0.3% of FUND’s shares were sold short, representing 0.7 days of average trading volume.
• Sprott Focus Trust raised its quarterly dividend to $0.1424 per share, equivalent to $0.57 annually and a 5.8% yield. Shares opened at $9.81, within a 52-week range of $7.50 to $10.47.
• Portfolio Manager W. Whitney George purchased 71,664 shares for approximately $690,000, increasing his ownership by 2.2%; insiders collectively own 52.93% of the company, while institutional investors own 12.63%.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 38,704 shares, a growth of 210.4% from the June 30th total of 12,468 shares. Based on an average daily volume of 54,215 shares, the short-interest ratio is currently 0.7 days. Currently, 0.3% of the shares of the company are sold short.

Sprott Focus Trust Price Performance

Shares of FUND stock opened at $9.81 on Monday. Sprott Focus Trust has a 52 week low of $7.50 and a 52 week high of $10.47. The company has a 50-day simple moving average of $9.89 and a 200 day simple moving average of $9.75.

Sprott Focus Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Friday, June 12th were given a dividend of $0.1424 per share. This represents a $0.57 annualized dividend and a yield of 5.8%. This is a boost from Sprott Focus Trust's previous quarterly dividend of $0.13. The ex-dividend date was Friday, June 12th.

Insiders Place Their Bets

In other Sprott Focus Trust news, Portfolio Manager W Whitney George bought 71,664 shares of the firm's stock in a transaction that occurred on Monday, June 29th. The shares were acquired at an average cost of $9.63 per share, with a total value of $690,124.32. Following the acquisition, the portfolio manager owned 3,326,193 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 52.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sprott Focus Trust

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sprott Inc. lifted its holdings in Sprott Focus Trust by 1.5% during the 4th quarter. Sprott Inc. now owns 15,450,730 shares of the financial services provider's stock worth $134,112,000 after purchasing an additional 231,672 shares during the last quarter. Evolve Private Wealth LLC bought a new stake in Sprott Focus Trust in the 4th quarter valued at $1,310,000. Royal Bank of Canada grew its holdings in Sprott Focus Trust by 15.4% in 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 buying an additional 106,805 shares in the last quarter. LPL Financial LLC grew its holdings in Sprott Focus Trust by 18.7% in the 4th quarter. LPL Financial LLC now owns 525,819 shares of the financial services provider's stock valued at $4,564,000 after buying an additional 82,782 shares in the last quarter. Finally, Osaic Holdings Inc. increased its position in Sprott Focus Trust by 203.4% during the 2nd quarter. Osaic Holdings Inc. now owns 50,438 shares of the financial services provider's stock worth $377,000 after buying an additional 33,815 shares during the period. Institutional investors and hedge funds own 12.63% of the company's stock.

About Sprott Focus Trust

Sprott Focus Trust, Inc is a closed‐end management investment company trading on the Nasdaq under the ticker FUND. Externally managed by Sprott Asset Management LP, the trust offers investors targeted exposure to publicly traded companies that generate revenue through precious metals royalty and streaming agreements. By focusing on this segment, the trust provides a specialized approach to gaining potential income and capital appreciation tied to gold, silver and other base metal production.

The investment strategy centers on assembling a diversified portfolio of royalty and streaming firms with long‐life assets, stable cash flow profiles and strong growth outlooks.

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