Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Rises By 68.2%

Sprott Focus Trust, Inc. (NASDAQ:FUND) saw a significant growth in short interest in March. As of March 15th, there was short interest totalling 36,000 shares, a growth of 68.2% from the February 28th total of 21,400 shares. Based on an average daily volume of 46,700 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.2% of the company’s stock are sold short.

Insider Activity at Sprott Focus Trust

In other Sprott Focus Trust news, Portfolio Manager W Whitney George purchased 106,939 shares of the stock in a transaction that occurred on Monday, December 30th. The stock was bought at an average cost of $7.27 per share, with a total value of $777,446.53. Following the transaction, the portfolio manager now directly owns 7,813,063 shares in the company, valued at approximately $56,800,968.01. The trade was a 1.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 50.59% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sprott Focus Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Waverly Advisors LLC bought a new position in Sprott Focus Trust in the 4th quarter worth about $79,000. NewEdge Advisors LLC bought a new position in shares of Sprott Focus Trust in the fourth quarter worth approximately $82,000. HighTower Advisors LLC purchased a new stake in shares of Sprott Focus Trust during the fourth quarter valued at approximately $144,000. Raymond James Financial Inc. purchased a new stake in shares of Sprott Focus Trust during the fourth quarter valued at approximately $149,000. Finally, Level Four Advisory Services LLC increased its position in shares of Sprott Focus Trust by 9.0% during the fourth quarter. Level Four Advisory Services LLC now owns 23,548 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,951 shares in the last quarter. 12.63% of the stock is currently owned by institutional investors.

Sprott Focus Trust Stock Performance

Shares of FUND traded down $0.10 during mid-day trading on Friday, reaching $7.36. The company had a trading volume of 49,068 shares, compared to its average volume of 36,797. The firm has a 50-day moving average price of $7.52 and a 200 day moving average price of $7.65. Sprott Focus Trust has a 52 week low of $7.15 and a 52 week high of $8.23.

Sprott Focus Trust Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.1305 dividend. This represents a $0.52 annualized dividend and a yield of 7.09%. The ex-dividend date of this dividend was Friday, March 14th.

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.