Sprott Focus Trust, Inc. (NASDAQ:FUND) Shares Shorted: Short Interest Down 40.2% in September

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

Sprott Focus Trust Stock Performance

Sprott Focus Trust stock opened at $9.71 on Thursday. Sprott Focus Trust has a 1 year low of $7.97 and a 1 year high of $10.99. The business has a 50-day moving average of $10.29 and a 200-day moving average of $10.05.

Sprott Focus Trust Increases Dividend

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

Insider Activity at Sprott Focus Trust

In related news, Portfolio Manager Whitney George acquired 122,111 shares of the company’s stock in a transaction that occurred on Tuesday, September 29th. The stock was acquired at an average price of $10.05 per share, for a total transaction of $1,227,215.55. Following the completion of the acquisition, the portfolio manager owned 3,375,936 shares of the company’s stock, valued at $33,928,156.80. This trade represents a 3.75% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. 54.83% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sprott Focus Trust

Several large investors have recently bought and sold shares of FUND. Readystate Asset Management LP bought a new stake in Sprott Focus Trust in the second quarter valued at approximately $134,000. Acorn Wealth Advisors LLC raised its stake in 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 buying an additional 3,244 shares during the period. Bank of America Corp DE acquired a new stake in Sprott Focus Trust during the 2nd quarter worth $170,000. Northwestern Mutual Wealth Management Co. bought a new position in Sprott Focus Trust during the second quarter worth about $191,000. Finally, Evolve Private Wealth LLC bought a new position in Sprott Focus Trust during the second quarter worth about $1,384,000. Institutional investors own 12.63% of the company’s stock.

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.