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

Key Points

• Sprott Focus Trust, Inc. (NASDAQ:FUND) experienced a 236.8% increase in short interest in September, climbing to 12,800 shares from 3,800 in August.
• Portfolio Manager W Whitney George bought 120,070 shares at $8.18 each, increasing their ownership by 3.88% to 3,215,943 shares total.
• The company declared a quarterly dividend of $0.1274 per share with a dividend yield of 6.1%, paid on September 29th to investors of record on September 15th.

Sprott Focus Trust, Inc. (NASDAQ:FUND - ) saw a significant growth in short interest in September. As of September 15th, there was short interest totaling 12,800 shares, a growth of 236.8% from the August 31st total of 3,800 shares. Based on an average daily volume of 30,800 shares, the short-interest ratio is presently 0.4 days. Based on an average daily volume of 30,800 shares, the short-interest ratio is presently 0.4 days.

Insider Buying and Selling

In other news, Portfolio Manager W Whitney George purchased 120,070 shares of the firm's stock in a transaction on Monday, September 29th. The shares were bought at an average cost of $8.18 per share, for a total transaction of $982,172.60. Following the completion of the purchase, the portfolio manager directly owned 3,215,943 shares of the company's stock, valued at approximately $26,306,413.74. This trade represents a 3.88% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 52.93% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sprott Focus Trust

A number of institutional investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its position in shares of Sprott Focus Trust by 20.5% during the 1st quarter. NewEdge Advisors LLC now owns 13,500 shares of the financial services provider's stock worth $100,000 after purchasing an additional 2,300 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in Sprott Focus Trust by 203.4% in 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 in the last quarter. Hara Capital LLC lifted its position in shares of Sprott Focus Trust by 2.1% during the second quarter. Hara Capital LLC now owns 69,126 shares of the financial services provider's stock worth $517,000 after purchasing an additional 1,430 shares during the last quarter. Blue Bell Private Wealth Management LLC lifted its position in shares of Sprott Focus Trust by 7.7% during the first quarter. Blue Bell Private Wealth Management LLC now owns 143,963 shares of the financial services provider's stock worth $1,067,000 after purchasing an additional 10,322 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Sprott Focus Trust by 11.8% during the first quarter. LPL Financial LLC now owns 433,753 shares of the financial services provider's stock worth $3,214,000 after acquiring an additional 45,643 shares during the period. Hedge funds and other institutional investors own 12.63% of the company's stock.

Sprott Focus Trust Stock Performance

NASDAQ:FUND traded up $0.05 during trading hours on Thursday, hitting $8.36. The company's stock had a trading volume of 21,806 shares, compared to its average volume of 29,738. The stock has a fifty day moving average of $8.07 and a 200-day moving average of $7.57. Sprott Focus Trust has a 52-week low of $6.21 and a 52-week high of $8.43.

Sprott Focus Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 29th. Investors of record on Monday, September 15th were issued a dividend of $0.1274 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.1%.

About Sprott Focus Trust

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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