Sprott Focus Trust (NASDAQ:FUND) Shares Break Below Two Hundred Day Moving Average – Here’s What Happened

Sprott Focus Trust, Inc. (NASDAQ:FUND) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $10.03 and traded as low as $9.50. Sprott Focus Trust shares last traded at $9.5810, with a volume of 9,231 shares traded.

Sprott Focus Trust Stock Up 1.7%

The company has a fifty day simple moving average of $10.31 and a two-hundred day simple moving average of $10.03.

Sprott Focus Trust Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 15th were paid a $0.1503 dividend. The ex-dividend date was Tuesday, September 15th. This is an increase from Sprott Focus Trust’s previous quarterly dividend of $0.1424. This represents a $0.60 annualized dividend and a yield of 6.2%.

Insiders Place Their Bets

In other Sprott Focus Trust news, Portfolio Manager Whitney George bought 122,111 shares of Sprott Focus Trust stock in a transaction that occurred on Tuesday, September 29th. The shares were purchased at an average cost of $10.05 per share, for a total transaction of $1,227,215.55. Following the completion of the transaction, the portfolio manager owned 3,375,936 shares of the company’s stock, valued at $33,928,156.80. This represents a 3.75% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 54.83% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of FUND. Royal Bank of Canada increased its position in Sprott Focus Trust by 15.4% during the first quarter. Royal Bank of Canada now owns 802,431 shares of the financial services provider’s stock worth $7,655,000 after purchasing an additional 106,805 shares during the last quarter. Evolve Private Wealth LLC acquired a new position in shares of Sprott Focus Trust in the 2nd quarter valued at $1,384,000. Readystate Asset Management LP acquired a new position in shares of Sprott Focus Trust in the 2nd quarter valued at $134,000. Acorn Wealth Advisors LLC grew its stake 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 valued at $1,158,000 after buying an additional 3,244 shares during the period. Finally, Bank of America Corp DE purchased a new stake in shares of Sprott Focus Trust during the 2nd quarter valued at $170,000. Institutional investors and hedge funds own 12.63% of the company’s stock.

Sprott Focus Trust Company Profile

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.