Insider Buying: Sprott Focus Trust, Inc. (NASDAQ:FUND) Portfolio Manager Acquires 65,998 Shares of Stock

Sprott Focus Trust, Inc. (NASDAQ:FUND) Portfolio Manager W Whitney George bought 65,998 shares of the business’s stock in a transaction on Friday, March 28th. The shares were purchased at an average cost of $7.30 per share, for a total transaction of $481,785.40. Following the completion of the purchase, the portfolio manager now owns 7,866,341 shares in the company, valued at approximately $57,424,289.30. This trade represents a 0.85 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Sprott Focus Trust Stock Down 0.3 %

NASDAQ:FUND traded down $0.02 during trading hours on Tuesday, hitting $7.39. 27,421 shares of the company’s stock traded hands, compared to its average volume of 36,784. Sprott Focus Trust, Inc. has a twelve month low of $7.15 and a twelve month high of $8.23. The stock’s fifty day moving average price is $7.51 and its two-hundred day moving average price is $7.65.

Sprott Focus Trust Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.1305 per share. This represents a $0.52 annualized dividend and a dividend yield of 7.06%. The ex-dividend date of this dividend was Friday, March 14th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. boosted its stake in shares of Sprott Focus Trust by 2.3% during the 4th quarter. Sprott Inc. now owns 14,777,915 shares of the financial services provider’s stock valued at $108,080,000 after buying an additional 327,932 shares during the period. LPL Financial LLC raised its holdings in shares of Sprott Focus Trust by 179.0% during the fourth quarter. LPL Financial LLC now owns 388,110 shares of the financial services provider’s stock worth $2,839,000 after acquiring an additional 248,980 shares in the last quarter. Integrated Wealth Concepts LLC boosted its position in Sprott Focus Trust by 1.0% during the third quarter. Integrated Wealth Concepts LLC now owns 329,649 shares of the financial services provider’s stock valued at $2,538,000 after purchasing an additional 3,301 shares during the last quarter. 1607 Capital Partners LLC grew its stake in Sprott Focus Trust by 20.4% in the fourth quarter. 1607 Capital Partners LLC now owns 310,073 shares of the financial services provider’s stock valued at $2,268,000 after purchasing an additional 52,590 shares in the last quarter. Finally, Wolverine Asset Management LLC increased its position in Sprott Focus Trust by 38.8% in the 4th quarter. Wolverine Asset Management LLC now owns 188,488 shares of the financial services provider’s stock worth $1,379,000 after purchasing an additional 52,645 shares during the last quarter. 12.63% of the stock is owned by hedge funds and other 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.