Shaker Financial Services LLC Has $2.35 Million Stake in Sprott Focus Trust, Inc. (NASDAQ:FUND)

Shaker Financial Services LLC decreased its stake in Sprott Focus Trust, Inc. (NASDAQ:FUND) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 317,148 shares of the financial services provider’s stock after selling 58,062 shares during the quarter. Shaker Financial Services LLC owned 1.06% of Sprott Focus Trust worth $2,350,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in FUND. Waverly Advisors LLC acquired a new stake in shares of Sprott Focus Trust during the fourth quarter worth about $79,000. NewEdge Advisors LLC acquired a new stake in shares of Sprott Focus Trust during the fourth quarter worth about $82,000. Raymond James Financial Inc. acquired a new stake in shares of Sprott Focus Trust during the fourth quarter worth about $149,000. Hara Capital LLC acquired a new stake in shares of Sprott Focus Trust during the fourth quarter worth about $509,000. Finally, Wells Fargo & Company MN raised its position in shares of Sprott Focus Trust by 7.6% during the fourth quarter. Wells Fargo & Company MN now owns 86,671 shares of the financial services provider’s stock worth $634,000 after purchasing an additional 6,126 shares during the period. Institutional investors and hedge funds own 12.63% of the company’s stock.

Sprott Focus Trust Trading Up 0.9%

NASDAQ:FUND opened at $7.63 on Tuesday. Sprott Focus Trust, Inc. has a 52-week low of $6.21 and a 52-week high of $8.23. The stock has a 50-day simple moving average of $7.56 and a 200 day simple moving average of $7.39.

Sprott Focus Trust Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a dividend of $0.128 per share. The ex-dividend date was Friday, June 13th. This represents a $0.51 dividend on an annualized basis and a dividend yield of 6.7%.

Insider Activity

In other news, Portfolio Manager W Whitney George bought 131,416 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The stock was acquired at an average cost of $7.41 per share, with a total value of $973,792.56. Following the completion of the purchase, the portfolio manager owned 3,166,625 shares of the company’s stock, valued at $23,464,691.25. This represents a 4.33% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 50.59% 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.