Christopher Clark Purchases 6,500 Shares of Royce Otc Micro (NYSE:RMT) Stock

Key Points

• Christopher Clark, president of Royce Otc Micro, purchased 6,500 shares on March 24 at an average price of $11.48, spending about $74,620 and increasing his holdings to 68,648 shares (a 10.46% rise).
• The company declared a quarterly dividend of $0.19 (annualized $0.76), implying a 6.5% yield; the record date is March 12 and the dividend is payable March 30.
• Notable institutional activity includes Saba Capital boosting its stake by 85.7% to 2,614,909 shares, and institutions/hedge funds now own about 34.98% of the stock.

Royce Otc Micro (NYSE:RMT - Get Free Report) President Christopher Clark acquired 6,500 shares of Royce Otc Micro stock in a transaction on Sunday, March 24th. The shares were purchased at an average cost of $11.48 per share, with a total value of $74,620.00. Following the completion of the purchase, the president directly owned 68,648 shares of the company's stock, valued at approximately $788,079.04. This represents a 10.46% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Royce Otc Micro Stock Performance

Shares of RMT traded up $0.28 during midday trading on Wednesday, hitting $11.77. The stock had a trading volume of 67,441 shares, compared to its average volume of 153,426. The business has a 50-day simple moving average of $11.75 and a two-hundred day simple moving average of $10.90. Royce Otc Micro has a fifty-two week low of $7.25 and a fifty-two week high of $12.50.

Royce Otc Micro Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Thursday, March 12th will be given a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 6.5%. The ex-dividend date is Thursday, March 12th.

Institutional Trading of Royce Otc Micro

Several large investors have recently added to or reduced their stakes in RMT. Saba Capital Management L.P. lifted its position in shares of Royce Otc Micro by 85.7% in the fourth quarter. Saba Capital Management L.P. now owns 2,614,909 shares of the financial services provider's stock worth $27,274,000 after buying an additional 1,206,828 shares during the last quarter. Modern Wealth Management LLC increased its holdings in shares of Royce Otc Micro by 1.9% during the 2nd quarter. Modern Wealth Management LLC now owns 1,095,569 shares of the financial services provider's stock valued at $10,134,000 after acquiring an additional 20,815 shares during the last quarter. UBS Group AG raised its stake in shares of Royce Otc Micro by 1.2% in the 3rd quarter. UBS Group AG now owns 1,043,876 shares of the financial services provider's stock valued at $10,846,000 after acquiring an additional 12,378 shares in the last quarter. LPL Financial LLC raised its stake in shares of Royce Otc Micro by 26.2% in the 4th quarter. LPL Financial LLC now owns 1,022,240 shares of the financial services provider's stock valued at $10,662,000 after acquiring an additional 212,322 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Royce Otc Micro by 4.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,002,939 shares of the financial services provider's stock worth $10,461,000 after purchasing an additional 39,186 shares during the last quarter. 34.98% of the stock is owned by institutional investors and hedge funds.

Royce Otc Micro Company Profile

Royce Micro-Cap Trust, Inc NYSE: RMT is a closed-end management investment company primarily focused on micro-capitalization equity securities. The trust seeks long-term capital appreciation by investing in small U.S. companies that, due to their relatively low market values, often receive less attention from larger institutional investors.

Managed by Royce & Associates, LLC, RMT employs a fundamental, value-oriented investment strategy grounded in in-depth, bottom-up research. Portfolio managers analyze financial statements, market trends and company management to identify undervalued firms with the potential for significant growth.

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