Sprott Focus Trust, Inc. (NASDAQ:FUND) Stock Short Interest Falls 40.2%

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the recipient of a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 19,211 shares, a decrease of 40.2% from the September 15th total of 32,102 shares. Based on an average daily volume of 18,022 shares, the days-to-cover ratio is currently 1.1 days. Approximately 0.1% of the company’s shares are sold short.

Insider Transactions at Sprott Focus Trust

In other news, Portfolio Manager Whitney George bought 122,111 shares of Sprott Focus Trust stock in a transaction on Tuesday, September 29th. The shares were bought at an average cost of $10.05 per share, with a total value of $1,227,215.55. Following the completion of the purchase, the portfolio manager directly owned 3,375,936 shares of the company’s stock, valued at approximately $33,928,156.80. This trade represents a 3.75% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 54.83% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Readystate Asset Management LP purchased a new stake in Sprott Focus Trust in the second quarter valued at $134,000. Acorn Wealth Advisors LLC grew its holdings in shares of Sprott Focus Trust by 7.8% during the 2nd quarter. Acorn Wealth Advisors LLC now owns 45,010 shares of the financial services provider’s stock worth $1,158,000 after purchasing an additional 3,244 shares during the period. Bank of America Corp DE acquired a new stake in shares of Sprott Focus Trust during the 2nd quarter worth about $170,000. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of Sprott Focus Trust during the 2nd quarter worth about $191,000. Finally, Evolve Private Wealth LLC acquired a new stake in shares of Sprott Focus Trust during the 2nd quarter worth about $1,384,000. 12.63% of the stock is currently owned by institutional investors and hedge funds.

Sprott Focus Trust Stock Performance

NASDAQ:FUND traded down $0.06 on Friday, hitting $9.70. The stock had a trading volume of 20,367 shares, compared to its average volume of 28,629. The company has a fifty day moving average price of $10.29 and a two-hundred day moving average price of $10.05. Sprott Focus Trust has a 1-year low of $7.97 and a 1-year high of $10.99.

Sprott Focus Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Tuesday, September 15th were given a dividend of $0.1503 per share. This represents a $0.60 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend was Tuesday, September 15th. This is a boost from Sprott Focus Trust’s previous quarterly dividend of $0.1424.

About Sprott Focus Trust

Sprott Focus Trust (NASDAQ: FUND) is a closed-end investment company that seeks long-term capital appreciation for its shareholders. Rather than operating a commercial business, the trust pools investor capital and invests it in a concentrated portfolio of publicly traded securities.

The fund primarily invests in common stocks and other equity securities. Its portfolio may include companies from a variety of industries and geographic markets, including issuers outside the United States.