Insider Buying: Sprott Focus Trust, Inc. (NASDAQ:FUND) Portfolio Manager Purchases $481,785.40 in Stock

Sprott Focus Trust, Inc. (NASDAQ:FUND) Portfolio Manager W Whitney George acquired 65,998 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were bought at an average price of $7.30 per share, for a total transaction of $481,785.40. Following the acquisition, the portfolio manager now directly owns 7,866,341 shares of the company’s stock, valued at approximately $57,424,289.30. This trade represents a 0.85 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is accessible through this link.

Sprott Focus Trust Stock Performance

NASDAQ FUND opened at $7.11 on Friday. Sprott Focus Trust, Inc. has a 52 week low of $7.10 and a 52 week high of $8.23. The business has a 50 day moving average price of $7.49 and a 200-day moving average price of $7.65.

Sprott Focus Trust Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.1305 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 7.34%. The ex-dividend date of this dividend was Friday, March 14th.

Hedge Funds Weigh In On Sprott Focus Trust

Hedge funds have recently added to or reduced their stakes in the stock. Sprott Inc. boosted its holdings in 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 worth $108,080,000 after acquiring an additional 327,932 shares during the last quarter. LPL Financial LLC increased its stake in shares of Sprott Focus Trust by 179.0% during the 4th quarter. LPL Financial LLC now owns 388,110 shares of the financial services provider’s stock worth $2,839,000 after purchasing an additional 248,980 shares during the last quarter. Hara Capital LLC bought a new stake in shares of Sprott Focus Trust in the fourth quarter valued at $582,000. Wolverine Asset Management LLC raised its stake 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 valued at $1,379,000 after acquiring an additional 52,645 shares during the period. Finally, 1607 Capital Partners LLC raised its position in shares of 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 during the period. 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.