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

Sprott Focus Trust, Inc. (NASDAQ:FUND - Get Free Report) saw a large growth in short interest in the month of 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 trading volume, of 46,700 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the company's shares are short sold.

Sprott Focus Trust Stock Performance

FUND stock traded up $0.06 during midday trading on Wednesday, hitting $7.45. 43,555 shares of the company's stock were exchanged, compared to its average volume of 36,893. Sprott Focus Trust has a one year low of $7.15 and a one year high of $8.23. The stock's fifty day moving average price is $7.50 and its 200-day moving average price is $7.65.

Sprott Focus Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.1305 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.52 annualized dividend and a dividend yield of 7.01%.

Insider Activity

In other news, Portfolio Manager W Whitney George purchased 65,998 shares of Sprott Focus Trust stock in a transaction dated Friday, March 28th. The shares were bought at an average cost of $7.30 per share, with a total value of $481,785.40. Following the completion of the transaction, the portfolio manager now directly owns 7,866,341 shares in the company, valued at $57,424,289.30. This trade represents a 0.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 50.59% of the stock is currently owned by company insiders.

Institutional Trading of Sprott Focus Trust

Several hedge funds have recently bought and sold shares of the stock. Waverly Advisors LLC acquired a new stake in shares of Sprott Focus Trust during the fourth quarter worth $79,000. NewEdge Advisors LLC acquired a new stake in shares of Sprott Focus Trust in the 4th quarter valued at about $82,000. HighTower Advisors LLC acquired a new stake in shares of Sprott Focus Trust in the 4th quarter valued at about $144,000. Raymond James Financial Inc. bought a new stake in shares of Sprott Focus Trust in the fourth quarter valued at about $149,000. Finally, Level Four Advisory Services LLC boosted 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 worth $172,000 after buying an additional 1,951 shares during the period. 12.63% of the stock is currently owned by institutional investors and hedge funds.

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.