Sprott Focus Trust, Inc. (NASDAQ:FUND) Short Interest Update

Key Points

• Sprott Focus Trust, Inc. (NASDAQ:FUND) reported an 83.1% decline in short interest, dropping from 22,500 shares on August 15th to just 3,800 shares by month-end.
• The firm announced a quarterly dividend of $0.1274 per share, set to be paid on September 29th, which translates to an annualized yield of 6.1%.
• Institutional investors have been actively adjusting their positions, with several firms, including Sprott Inc. and Shaker Financial Services, increasing their stakes during recent quarters.

Sprott Focus Trust, Inc. (NASDAQ:FUND - ) saw a large decline in short interest during the month of August. As of August 31st, there was short interest totaling 3,800 shares, a decline of 83.1% from the August 15th total of 22,500 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 30,600 shares, the short-interest ratio is presently 0.1 days. Based on an average trading volume of 30,600 shares, the short-interest ratio is presently 0.1 days. Approximately 0.0% of the shares of the stock are sold short.

Sprott Focus Trust Stock Performance

NASDAQ FUND traded up $0.07 on Thursday, reaching $8.38. The company had a trading volume of 45,844 shares, compared to its average volume of 38,131. The firm's 50 day moving average price is $7.91 and its 200 day moving average price is $7.47. Sprott Focus Trust has a 12 month low of $6.21 and a 12 month high of $8.43.

Sprott Focus Trust Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 15th will be paid a $0.1274 dividend. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend is Monday, September 15th.

Insider Transactions at Sprott Focus Trust

In related news, Portfolio Manager W Whitney George purchased 131,416 shares of Sprott Focus Trust stock in a transaction on Monday, June 30th. The shares were bought at an average cost 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 approximately $23,464,691.25. The trade was a 4.33% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 52.93% of the company's stock.

Hedge Funds Weigh In On Sprott Focus Trust

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sprott Inc. boosted its stake in shares of Sprott Focus Trust by 1.0% during the 1st quarter. Sprott Inc. now owns 14,932,818 shares of the financial services provider's stock worth $110,652,000 after purchasing an additional 154,903 shares during the period. Shaker Financial Services LLC boosted its stake in shares of Sprott Focus Trust by 44.9% during the 2nd quarter. Shaker Financial Services LLC now owns 459,701 shares of the financial services provider's stock worth $3,439,000 after purchasing an additional 142,553 shares during the period. Royal Bank of Canada boosted its stake in shares of Sprott Focus Trust by 16.7% during the 1st quarter. Royal Bank of Canada now owns 579,065 shares of the financial services provider's stock worth $4,291,000 after purchasing an additional 82,892 shares during the period. Hara Capital LLC purchased a new position in shares of Sprott Focus Trust during the 4th quarter worth about $509,000. Finally, LPL Financial LLC boosted its stake in shares of Sprott Focus Trust by 11.8% during the 1st quarter. LPL Financial LLC now owns 433,753 shares of the financial services provider's stock worth $3,214,000 after purchasing an additional 45,643 shares during the period. 12.63% of the stock is owned by hedge funds and other institutional investors.

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.

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