Sprott Focus Trust Stock News

For many restructured loan accounts like FRL, banks are in control of fund movement and there is continuous assessment of financial position

By Isla Binnie and Emma Rumney JOHANNESBURG (Reuters) – South African miner Exxaro and Chinese state fund CNIC are among potential buyers admitted to the final round of bidding for African renewable energy firm Lekela Power – a company worth around $2 billion, a number of sources familiar with the deal told Reuters.

Morning Wood: Hours After ARK Founder Says Innovation Stocks Are "Deep Value", Two Major Holdings Plunge For those that missed it on Thursday, Cathie Wood spent the better part of an hour on CNBC''s Halftime Report, defending her stock picking style and running through a rolodex of financial-speak to try and justify what has been an ugly drawdown, now over 50%, for her flagship ARKK fund. “We do believe innovation is in the bargain basement territory. … Our technology stocks are way undervalued relative to their potential. ... Give us five years, we’re running a deep value portfolio,” Wood said on CNBC Thursday . “Our biggest concern is that our investors turn what we believe are temporary losses into permanent losses,” she continued. It was just hours after her appearance where she claimed that her stocks were not in bubbles that Roku, one of Wood''s holdings in several funds, was plummeting 25% on an earnings report that failed to get the rest of the market as excited as Wood clearly is about the name.

DraftKings Shares Plunge As Customer Growth Disappoints DraftKings Inc. shares tumbled premarket after adding fewer users for the fourth quarter than Wall Street expected. Shares are down about 15% after the company said an average of 2 million monthly unique users used the sports betting app. Analysts were predicting upwards of 2.1 million. The company also forecasted a 2022 adjusted Ebitda guidance for a loss between $825 million to $925 million -- far greater than the highest forecast on Wall Street of $739 million. Highlights from today''s earnings release are provided by Bloomberg: The company says it had 2 million monthly unique paying customers during each month of the quarter, on average, slightly missing estimates for 2.1 million. It introduced 2022 adjusted Ebitda guidance for a loss between $825 million and $925 million, far bigger than estimates for a loss of about $699 million and the highest forecast for a loss of $739 million, data compiled by Bloomberg show. DraftKings did boost its 2022 revenue forecast to $1.85 billion to $2 billion from $1.7 billion to $1.9 billion.

Venture capital firm Sequoia Capital has announced that it is looking to raise around $500-600 million crypto fund to invest exclusively in the crypto space. Restructured Sequoia Launches Crypto Sub-Fund Sequoia Capital is the latest financial giant to bet heavily on cryptocurrency. The sector-specific fund will be one of the first sub-funds launched by the firm since its significant restructuring. The firm has shifted its focus away from a traditional venture capital structure. Instead, the Sequoia Fund has been established. It is an open-ended liquid portfolio of public positions in specific companies that allocate capital to a series of close-end sub-funds. According to reports, there is a $900-950 million Ecosystem sub-fund that allows portfolio founders to invest in related companies and a $3.2-3.5 billion Expansion sub-fund investing in growth-stage companies. Because of the restructuring, the Sequoia Crypto Fund will primarily invest in tokens already listed on crypto exchanges and those that are yet to be listed.

An ETF filed Thursday would bet against one of the most loved stocks and companies and could create a battle with the world’s richest person. What Happened: Direxion filed an ETF called Direxion Daily TSLA Bear 1X Shares . The ETF would bet against Tesla Inc (NASDAQ: TSLA ) on a daily basis and provide exposure to investors who believe the price of Tesla will fall or those looking for a hedge against a long TSLA position. The filing was shared by Eric Balchunas , the Senior ETF Analyst at Bloomberg. Direxion’s filing follows a filing for the Innovation Hedged Tesla ETF that''s seeking to buy and sell call options in Tesla. The fund would invest 20% in calls on Tesla shares and put the rest of the capital into U.S. Treasury bills. The ETF would trade with the … Full story available on Benzinga.com

WHEATON, Ill.--(BUSINESS WIRE)--First Trust High Yield Opportunities 2027 Term Fund (the "Fund") (NYSE: FTHY) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.1494 per share payable on March 25, 2022, to shareholders of record as of March 2, 2022. The ex-dividend date is expected to be March 1, 2022. The monthly distribution information for the Fund appears below. First Trust High Yield Opportunities 2027 Term Fund (FTHY): Distribution per sh

WHEATON, Ill.--(BUSINESS WIRE)--First Trust Senior Floating Rate Income Fund II (the "Fund") (NYSE: FCT) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.072 per share payable on March 15, 2022, to shareholders of record as of March 2, 2022. The ex-dividend date is expected to be March 1, 2022. The monthly distribution information for the Fund appears below. First Trust Senior Floating Rate Income Fund II (FCT): Distribution per share: $0.072 Dis

WHEATON, Ill.--(BUSINESS WIRE)--First Trust/Aberdeen Global Opportunity Income Fund (the "Fund") (NYSE: FAM) has declared the Fund’s regularly scheduled monthly common share distribution in the amount of $0.065 per share payable on March 15, 2022, to shareholders of record as of March 2, 2022. The ex-dividend date is expected to be March 1, 2022. The monthly distribution information for the Fund appears below. First Trust/Aberdeen Global Opportunity Income Fund (FAM): Distribution per share: $0

Sculptor Tumbles As Investors Pull Tens Of Millions From Troubled Hedge Fund The billion-dollar hedge fund formerly known as Och-Ziff Capital, one of the biggest such firms in Europe, saw its AUM shrink sharply in Q4 as LPs pulled $55 million from the firm''s flagship fund during the quarter, according to data obtained by Bloomberg. The fund, which is presently known as Sculptor Capital and is still run by Jimmy Levin, saw its shares slump by nearly 20% on Thurssday, the biggest intraday drop since May 2020, as CEO Levin’s turnaround efforts sputtered, extending the firm''s YTD slump to 38%. Source: Jimmy Levin The firm, which houses several funds, broke down its performance as follows: Multi-strategy funds gained 5% in 2021 to $11.1 billion in assets. Despite Q4 outflows, portfolios still managed to make $100M during the 12-month period beginning in January and ending in December. It marked the first year in seven where the firm saw positive net inflows. Levin described 2021 as an "inflection" point and begged investors to stick with him for just a little while longer (as we noted above, the firm has been struggling for years). "After years and years of hard work against what at times felt like some pretty tough odds, we’re now in a place where we have actual, tangible results," he said.

Many investors and analysts doubted Ark Invest CEO Cathie Wood''s early investment in Tesla Inc (NASDAQ: TSLA ), but Ark didn''t care what other''s thought because the firm had done the research and understood the prospects of Tesla''s battery technology, AI, robotics capabilities and over-the-air software updates. "That got us to the right answer," Wood said Thursday on CNBC. Tesla has delivered investors more than 1,500% returns over a five-year period, which Wood maintains as her investment horizon. Tesla is still the top holding in Wood''s flagship fund, the ARK Innovation ETF (NYSE: ARKK ), with an 8.65% weighting. Ark''s investment portfolios have fallen more than 50% from their highs, but Wood isn''t worried . She expects all of her investments to rebound to previous highs and beyond. She remains confident in her investment theses … Full story available on Benzinga.com

CHICAGO , Feb.17, 2022 /PRNewswire-PRWeb/ --North Square Investments announced today that its North Square Strategic Income Fund (ADVNX), subadvised by Red Cedar Investment Management, achieved a key milestone during the month of January, surpassing $100 million in assets. "Through demonstrating an ability to navigate across multiple market sectors and global regions, we believe that Red Cedar has developed a following among certain sophisticated investors who also recognize the firm''s particular experience with investing in preferred securities, which provides a certain degree of diversification to portfolios that investors might not get from more traditional fixed income investments," said North Square CEO and co-founder Mark Goodwin . "We believe our partners at Red Cedar are well positioned to help income-oriented investors address the challenges presented by the current rising interest rate environment," Goodwin said. "We are extremely pleased to be working in partnership with North Square," said John Cassady III , Chief Investment Officer of Red Cedar. "We believe that our distinct ability to invest across the capital structure of companies allows us to provide better risk-adjusted returns by targeting securities with lower correlation to the broader market.

Lennar Corporation found using ticker (LEN) have now 14 analysts covering the stock. The analyst consensus points to a rating of ''Buy''. The target price ranges between 179 and 115 with a mean TP of 132.57. With the stocks previous close at 91.88 this would imply there is a potential upside of 44.3%. The 50 day MA is 104.28 while the 200 day moving average is 101.9. The market capitalisation for the company is $27,882m. Company Website: https://www.lennar.com [stock_market_widget type="chart" symbol="LEN" chart="bar" range="6mo" interval="1d" line-color="rgb(49, 125, 189)"] The potential market cap would be $40,229m based on the market concensus. Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Financial Services, Multifamily, and Lennar Other segments. The company''s homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

The Wall Street Journal reports that activist investor Daniel Loeb sees ~$1 trillion in untapped value at Amazon.com Inc (NASDAQ: AMZN ). Loeb''s Third Point LLC counts the e-commerce major as one of its most significant holdings. Third Point, as of the end of 2021, had an Amazon stake valued at $784 million. The fund had a stake of roughly $608 … Full story available on Benzinga.com

Sony Ventures Corporation (SVC) announced today it has completed the first closing of its $215 million (25 billion JPY) fourth fund, Sony Innovation Fund 3 (SIF3), to back all stages of emerging technology companies. Sony Ventures Corporation was established in July last year to manage all of Sony’s venture investment activities through Sony Innovation Fund […]