Northwestern Mutual Wealth Management Co. Sells 3,450 Shares of Sprott Focus Trust, Inc. (NASDAQ:FUND)

Northwestern Mutual Wealth Management Co. cut its position in Sprott Focus Trust, Inc. (NASDAQ:FUND) by 16.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,110 shares of the financial services provider’s stock after selling 3,450 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.06% of Sprott Focus Trust worth $135,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in the company. 9258 Wealth Management LLC bought a new stake in Sprott Focus Trust during the first quarter valued at $87,000. Blue Bell Private Wealth Management LLC grew its holdings in shares of Sprott Focus Trust by 392.5% during the second quarter. Blue Bell Private Wealth Management LLC now owns 63,348 shares of the financial services provider’s stock worth $474,000 after purchasing an additional 50,485 shares in the last quarter. Wolverine Asset Management LLC increased its position in shares of Sprott Focus Trust by 4.8% in the second quarter. Wolverine Asset Management LLC now owns 134,938 shares of the financial services provider’s stock worth $1,009,000 after purchasing an additional 6,198 shares during the last quarter. Cetera Advisors LLC purchased a new stake in Sprott Focus Trust in the first quarter valued at approximately $1,867,000. Finally, Shaker Financial Services LLC grew its stake in Sprott Focus Trust by 10.2% in the 2nd quarter. Shaker Financial Services LLC now owns 995,343 shares of the financial services provider’s stock worth $7,466,000 after buying an additional 92,476 shares in the last quarter. 12.63% of the stock is currently owned by hedge funds and other institutional investors.

Sprott Focus Trust Price Performance

Shares of NASDAQ:FUND opened at $7.65 on Friday. Sprott Focus Trust, Inc. has a one year low of $6.75 and a one year high of $8.11. The company’s fifty day moving average price is $7.70 and its 200-day moving average price is $7.74.

Sprott Focus Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a dividend of $0.1301 per share. This is an increase from Sprott Focus Trust’s previous quarterly dividend of $0.13. The ex-dividend date was Monday, September 16th. This represents a $0.52 dividend on an annualized basis and a yield of 6.80%.

Insiders Place Their Bets

In related news, Portfolio Manager W Whitney George sold 26,000 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $7.58, for a total transaction of $197,080.00. Following the transaction, the portfolio manager now directly owns 321,114 shares of the company’s stock, valued at approximately $2,434,044.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 48.90% 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.