Sprott Focus Trust, Inc. (NASDAQ:FUND) Sees Significant Growth in Short Interest

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 11,700 shares, an increase of 129.4% from the October 15th total of 5,100 shares. Based on an average daily volume of 41,300 shares, the short-interest ratio is currently 0.3 days.

Sprott Focus Trust Stock Down 0.5 %

Shares of FUND traded down $0.04 during mid-day trading on Friday, reaching $7.78. The company had a trading volume of 47,826 shares, compared to its average volume of 33,422. The firm has a fifty day simple moving average of $7.75 and a 200-day simple moving average of $7.74. Sprott Focus Trust has a fifty-two week low of $7.25 and a fifty-two week high of $8.12.

Sprott Focus Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were paid a dividend of $0.1301 per share. The ex-dividend date of this dividend was Monday, September 16th. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.13. This represents a $0.52 annualized dividend and a yield of 6.69%.

Insider Activity

In related news, Portfolio Manager W Whitney George sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $7.58, for a total value of $197,080.00. Following the sale, the portfolio manager now directly owns 321,114 shares of the company’s stock, valued at approximately $2,434,044.12. This trade represents a 7.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 50.59% of the company’s stock.

Hedge Funds Weigh In On Sprott Focus Trust

A number of large investors have recently modified their holdings of the company. Cetera Advisors LLC purchased a new position in Sprott Focus Trust in the first quarter valued at approximately $1,867,000. Shaker Financial Services LLC raised its stake in shares of Sprott Focus Trust by 10.2% in the 2nd quarter. Shaker Financial Services LLC now owns 995,343 shares of the financial services provider’s stock valued at $7,466,000 after acquiring an additional 92,476 shares during the period. Sanctuary Advisors LLC acquired a new position in shares of Sprott Focus Trust during the 2nd quarter valued at $1,226,000. Blue Bell Private Wealth Management LLC boosted its position in Sprott Focus Trust by 392.5% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 63,348 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 50,485 shares during the period. Finally, Wolverine Asset Management LLC increased its holdings in Sprott Focus Trust by 4.8% in the 2nd quarter. Wolverine Asset Management LLC now owns 134,938 shares of the financial services provider’s stock valued at $1,009,000 after purchasing an additional 6,198 shares in the last quarter. 12.63% of the stock is currently owned by hedge funds and other institutional investors.

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.