Short Interest in Sprott Inc. (NYSE:SII) Declines By 38.5%

Sprott Inc. (NYSE:SII) was the target of a significant drop in short interest in the month of November. As of November 15th, there was short interest totalling 91,700 shares, a drop of 38.5% from the October 31st total of 149,000 shares. Based on an average daily volume of 108,400 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.4% of the company’s stock are sold short.

Hedge Funds Weigh In On Sprott

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank increased its position in Sprott by 64.2% during the second quarter. Toronto Dominion Bank now owns 693 shares of the company’s stock worth $29,000 after buying an additional 271 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Sprott in the second quarter valued at approximately $29,000. Capital Performance Advisors LLP bought a new stake in shares of Sprott during the third quarter valued at about $32,000. Mather Group LLC. boosted its stake in Sprott by 107.1% during the second quarter. Mather Group LLC. now owns 874 shares of the company’s stock valued at $36,000 after buying an additional 452 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Sprott during the 1st quarter valued at $39,000. Hedge funds and other institutional investors own 28.30% of the company’s stock.

Sprott Stock Up 1.2 %

SII stock traded up $0.51 during midday trading on Thursday, hitting $43.78. The company’s stock had a trading volume of 94,525 shares, compared to its average volume of 110,749. Sprott has a 52-week low of $31.28 and a 52-week high of $48.00. The firm has a 50-day simple moving average of $44.29 and a 200-day simple moving average of $43.23. The company has a quick ratio of 3.30, a current ratio of 3.30 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $1.13 billion, a P/E ratio of 24.05 and a beta of 1.09.

Sprott Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Monday, November 18th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.74%. This is an increase from Sprott’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Monday, November 18th. Sprott’s payout ratio is 65.93%.

Sprott Company Profile

Sprott Inc is a publicly owned asset management holding company. Through its subsidiaries, the firm provides asset management, portfolio management, wealth management, fund management, and administrative and consulting services to its clients. It offers mutual funds, hedge funds, and offshore funds, along with managed accounts.