Westlake Chemical (WLK) Reaches $78.85 52-Week High; Rivernorth Capital Management Has Lowered Sprott Focus Tr (FUND) Stake By $370,800

September 12, 2017 - By Adrian Erickson

Rivernorth Capital Management Llc decreased Sprott Focus Tr Inc (FUND) stake by 4.67% reported in 2016Q4 SEC filing. Rivernorth Capital Management Llc sold 61,800 shares as Sprott Focus Tr Inc (FUND)’s stock rose 0.79%. The Rivernorth Capital Management Llc holds 1.26M shares with $8.75 million value, down from 1.32M last quarter. Sprott Focus Tr Inc now has $181.21M valuation. The stock rose 0.26% or $0.02 reaching $7.57. About 1,955 shares traded. Sprott Focus Trust, Inc. – Closed End Fund (NASDAQ:FUND) has risen 25.12% since September 12, 2016 and is uptrending. It has outperformed by 8.42% the S&P500.

The stock of Westlake Chemical Corporation (NYSE:WLK) hit a new 52-week high and has $85.16 target or 8.00% above today’s $78.85 share price. The 7 months bullish chart indicates low risk for the $10.18B company. The 1-year high was reported on Sep, 12 by Barchart.com. If the $85.16 price target is reached, the company will be worth $814.40 million more. About 160,510 shares traded. Westlake Chemical Corporation (NYSE:WLK) has risen 45.05% since September 12, 2016 and is uptrending. It has outperformed by 28.35% the S&P500.

Rivernorth Capital Management Llc increased Western Asset Emrg Mkt Incm (EMD) stake by 463,316 shares to 1.92M valued at $28.23 million in 2016Q4. It also upped Nuveen Amt Free Qlty Mun Inc (NEA) stake by 3.04 million shares and now owns 3.06M shares. Blackrock Res & Comm Strat T (BCX) was raised too.

Since May 17, 2017, it had 0 insider buys, and 1 sale for $409,198 activity. Another trade for 6,578 shares valued at $409,198 was made by Mangieri George J on Wednesday, May 17.

Westlake Chemical Corporation is a global maker and marketer of basic chemicals, vinyls, polymers and building products. The company has market cap of $10.18 billion. The Company’s products include a range of chemicals, which are fundamental to various consumer and industrial markets, including flexible and rigid packaging, automotive products, coatings, water treatment, refrigerants, residential and commercial construction, as well as other durable and non-durable goods. It has a 22.55 P/E ratio. The Company’s divisions include Olefins and Vinyls.

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