Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report)'s stock price passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $9.94 and traded as high as $9.97. Sprott Focus Trust shares last traded at $9.84, with a volume of 76,709 shares changing hands.
Sprott Focus Trust Stock Up 0.5%
The company's 50 day simple moving average is $9.94 and its 200 day simple moving average is $9.70.
Sprott Focus Trust Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Friday, June 12th were issued a $0.1424 dividend. The ex-dividend date was Friday, June 12th. This is an increase from Sprott Focus Trust's previous quarterly dividend of $0.13. This represents a $0.57 dividend on an annualized basis and a yield of 5.8%.
Insider Buying and Selling at Sprott Focus Trust
In other news, Portfolio Manager W Whitney George acquired 71,664 shares of Sprott Focus Trust stock in a transaction dated 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 purchase, the portfolio manager directly owned 3,326,193 shares of the company's stock, valued at approximately $32,031,238.59. This trade represents a 2.20% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 52.93% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Several hedge funds have recently bought and sold shares of FUND. Sprott Inc. raised its stake in shares of Sprott Focus Trust by 1.5% in the 4th quarter. Sprott Inc. now owns 15,450,730 shares of the financial services provider's stock valued at $134,112,000 after acquiring an additional 231,672 shares during the period. Evolve Private Wealth LLC purchased a new stake in Sprott Focus Trust during the 4th quarter worth $1,310,000. Royal Bank of Canada increased 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 purchasing an additional 106,805 shares in the last quarter. LPL Financial LLC increased 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 purchasing an additional 82,782 shares in the last quarter. Finally, Osaic Holdings Inc. raised its position in Sprott Focus Trust by 203.4% in the second quarter. Osaic Holdings Inc. now owns 50,438 shares of the financial services provider's stock valued at $377,000 after purchasing an additional 33,815 shares during the period. Hedge funds and other institutional investors own 12.63% of the company's stock.
Sprott Focus Trust Company Profile
(
Get Free Report)
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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