Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Expands By 59.5%

Key Points

• Sprott Focus Trust, Inc. (NASDAQ:FUND) experienced a 59.5% increase in short interest for July, reaching 26,800 shares as of July 31st.
• Portfolio Manager W Whitney George acquired 131,416 shares of the company at an average price of $7.41, increasing his total ownership to over 3.1 million shares.
• The company announced a quarterly dividend of $0.128 per share, corresponding to an annualized payout of $0.51 and a yield of 6.5%.

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) was the recipient of a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 26,800 shares, anincreaseof59.5% from the July 15th total of 16,800 shares. Based on an average daily volume of 38,100 shares, the days-to-cover ratio is presently 0.7 days. Approximately0.2% of the company's shares are sold short. Approximately0.2% of the company's shares are sold short. Based on an average daily volume of 38,100 shares, the days-to-cover ratio is presently 0.7 days.

Insider Transactions at Sprott Focus Trust

In other news, Portfolio Manager W Whitney George purchased 131,416 shares of the stock in a transaction on Monday, June 30th. The stock was purchased at an average price of $7.41 per share, for a total transaction of $973,792.56. Following the acquisition, the portfolio manager owned 3,166,625 shares in the company, valued at $23,464,691.25. This trade represents a 4.33% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 52.93% of the company's stock.

Institutional Trading of Sprott Focus Trust

Hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC bought a new stake in shares of Sprott Focus Trust in the 4th quarter valued at $82,000. LPL Financial LLC increased its stake in shares of Sprott Focus Trust by 11.8% in the 1st quarter. LPL Financial LLC now owns 433,753 shares of the financial services provider's stock valued at $3,214,000 after acquiring an additional 45,643 shares in the last quarter. AQR Arbitrage LLC increased its stake in shares of Sprott Focus Trust by 34.5% in the 4th quarter. AQR Arbitrage LLC now owns 162,776 shares of the financial services provider's stock valued at $1,182,000 after acquiring an additional 41,797 shares in the last quarter. Hara Capital LLC bought a new stake in shares of Sprott Focus Trust in the 4th quarter valued at $509,000. Finally, Blue Bell Private Wealth Management LLC increased its stake in shares of Sprott Focus Trust by 7.7% in the 1st quarter. Blue Bell Private Wealth Management LLC now owns 143,963 shares of the financial services provider's stock valued at $1,067,000 after acquiring an additional 10,322 shares in the last quarter. Institutional investors own 12.63% of the company's stock.

Sprott Focus Trust Stock Up 2.3%

Sprott Focus Trust stock traded up $0.18 during mid-day trading on Friday, hitting $8.11. 85,559 shares of the stock were exchanged, compared to its average volume of 19,215. Sprott Focus Trust has a 12 month low of $6.21 and a 12 month high of $8.23. The firm's fifty day simple moving average is $7.70 and its two-hundred day simple moving average is $7.42.

Sprott Focus Trust Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Friday, June 13th were paid a $0.128 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.51 annualized dividend and a dividend yield of 6.3%.

Sprott Focus Trust Company Profile

Sprott Focus Trust, Inc is a closed-ended equity mutual fund launched and managed by Sprott Asset Management, LP. The fund is co-managed by Sprott Asset Management USA Inc It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.