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

Sprott Focus Trust, Inc. (NASDAQ:FUND) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totalling 14,300 shares, an increase 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 presently 0.5 days.

Sprott Focus Trust Stock Up 1.2 %

FUND opened at $7.48 on Friday. The firm’s 50-day simple moving average is $7.69 and its 200-day simple moving average is $7.74. Sprott Focus Trust has a twelve month low of $6.75 and a twelve month high of $8.47.

Sprott Focus Trust Increases Dividend

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

Institutional Investors Weigh In On Sprott Focus Trust

A number of hedge funds have recently added to or reduced their stakes in FUND. Cetera Advisors LLC bought a new stake in Sprott Focus Trust during the 1st quarter worth about $1,867,000. Shaker Financial Services LLC grew its holdings in Sprott Focus Trust by 23.3% during the 4th quarter. Shaker Financial Services LLC now owns 837,041 shares of the financial services provider’s stock worth $6,696,000 after acquiring an additional 158,107 shares during the last quarter. Sapient Capital LLC bought a new stake in Sprott Focus Trust during the 4th quarter worth about $753,000. Wolverine Asset Management LLC grew its holdings in Sprott Focus Trust by 1,015.9% during the 4th quarter. Wolverine Asset Management LLC now owns 58,482 shares of the financial services provider’s stock worth $468,000 after acquiring an additional 53,241 shares during the last quarter. Finally, AQR Arbitrage LLC bought a new stake in Sprott Focus Trust during the 3rd quarter worth about $87,000. Institutional investors own 12.63% of the company’s stock.

Sprott Focus Trust Company Profile

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.