Sprott Focus Trust, Inc. (NASDAQ:FUND) Sees Large Increase in Short Interest

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 5,900 shares, a growth of 555.6% from the March 31st total of 900 shares. Based on an average trading volume of 28,000 shares, the days-to-cover ratio is currently 0.2 days.

Sprott Focus Trust Stock Up 0.3 %

FUND stock traded up $0.02 during mid-day trading on Friday, reaching $7.67. 37,728 shares of the stock traded hands, compared to its average volume of 31,563. The business has a 50-day moving average of $7.79 and a two-hundred day moving average of $7.64. Sprott Focus Trust has a 52 week low of $6.75 and a 52 week high of $8.47.

Sprott Focus Trust Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.1286 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This is a positive change from Sprott Focus Trust’s previous quarterly dividend of $0.13. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.71%.

Institutional Investors Weigh In On Sprott Focus Trust

Several hedge funds and other institutional investors have recently modified their holdings of FUND. Blue Bell Private Wealth Management LLC bought a new stake in Sprott Focus Trust in the 4th quarter valued at $28,000. Wolverine Asset Management LLC bought a new stake in shares of Sprott Focus Trust in the third quarter valued at about $39,000. AQR Arbitrage LLC acquired a new stake in Sprott Focus Trust during the third quarter worth about $87,000. Sapient Capital LLC bought a new position in Sprott Focus Trust during the fourth quarter valued at about $668,000. Finally, Sprott Inc. raised its holdings in Sprott Focus Trust by 3.1% in the 4th quarter. Sprott Inc. now owns 114,355 shares of the financial services provider’s stock valued at $915,000 after acquiring an additional 3,397 shares in the last quarter. Institutional investors and hedge funds own 12.63% of the company’s stock.

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.