Short Interest in Sprott Focus Trust, Inc. (NASDAQ:FUND) Grows By 138.3%

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 14,300 shares, a growth of 138.3% from the May 31st total of 6,000 shares. Based on an average daily volume of 26,700 shares, the days-to-cover ratio is currently 0.5 days.

Sprott Focus Trust Stock Up 1.2 %

Shares of Sprott Focus Trust stock traded up $0.09 during trading hours on Friday, hitting $7.48. The company’s stock had a trading volume of 45,355 shares, compared to its average volume of 29,446. Sprott Focus Trust has a 12 month low of $6.75 and a 12 month high of $8.47. The stock has a 50 day moving average of $7.69 and a 200 day moving average of $7.74.

Sprott Focus Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.1299 per share. The ex-dividend date is Friday, June 14th. This is an increase from Sprott Focus Trust’s previous quarterly dividend of $0.13. This represents a $0.52 dividend on an annualized basis and a dividend yield of 6.95%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Blue Bell Private Wealth Management LLC acquired a new position in Sprott Focus Trust during the fourth quarter valued at approximately $28,000. AQR Arbitrage LLC acquired a new position in Sprott Focus Trust during the third quarter valued at approximately $87,000. 9258 Wealth Management LLC acquired a new position in Sprott Focus Trust during the first quarter valued at approximately $87,000. Wolverine Asset Management LLC boosted its position in Sprott Focus Trust by 1,015.9% during the fourth quarter. Wolverine Asset Management LLC now owns 58,482 shares of the financial services provider’s stock valued at $468,000 after purchasing an additional 53,241 shares during the last quarter. Finally, Sapient Capital LLC acquired a new position in Sprott Focus Trust during the fourth quarter valued at approximately $668,000. 12.63% of the stock is currently owned by institutional investors.

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.