Advisors Asset Management Inc. Reduces Holdings in Royce Otc Micro $RMT

Key Points

• Advisors Asset Management Inc. reduced its stake in Royce Otc Micro by 46.2%, now owning approximately $2.27 million worth of shares after selling a significant number during the first quarter.
• The company declared a quarterly dividend of $0.18, reflecting an annualized dividend yield of 7.0%, with the payment date set for September 25th.
• Royce Otc Micro's stock opened at $10.27 recently and has a 52-week range of $7.25 to $10.43, indicating a stable performance in the market.

Advisors Asset Management Inc. trimmed its position in shares of Royce Otc Micro (NYSE:RMT - Free Report) by 46.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 269,591 shares of the financial services provider's stock after selling 231,511 shares during the quarter. Advisors Asset Management Inc. owned about 0.53% of Royce Otc Micro worth $2,273,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RMT. Shaker Financial Services LLC boosted its holdings in shares of Royce Otc Micro by 23.5% during the 1st quarter. Shaker Financial Services LLC now owns 907,197 shares of the financial services provider's stock valued at $7,648,000 after acquiring an additional 172,411 shares during the last quarter. LPL Financial LLC grew its position in Royce Otc Micro by 13.3% in the 1st quarter. LPL Financial LLC now owns 671,106 shares of the financial services provider's stock worth $5,657,000 after purchasing an additional 78,528 shares during the period. Logan Stone Capital LLC grew its position in Royce Otc Micro by 181.7% in the 4th quarter. Logan Stone Capital LLC now owns 91,912 shares of the financial services provider's stock worth $896,000 after purchasing an additional 59,288 shares during the period. Readystate Asset Management LP grew its position in Royce Otc Micro by 159.2% in the 1st quarter. Readystate Asset Management LP now owns 88,772 shares of the financial services provider's stock worth $748,000 after purchasing an additional 54,518 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Royce Otc Micro by 7.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 745,898 shares of the financial services provider's stock worth $6,288,000 after purchasing an additional 50,461 shares during the period. Hedge funds and other institutional investors own 34.98% of the company's stock.

Royce Otc Micro Trading Down 0.4%

NYSE:RMT traded down $0.05 during trading hours on Friday, reaching $10.20. The company had a trading volume of 41,563 shares, compared to its average volume of 137,479. Royce Otc Micro has a 52 week low of $7.25 and a 52 week high of $10.45. The firm's 50 day moving average price is $9.77 and its 200-day moving average price is $8.99.

Royce Otc Micro Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date of this dividend is Friday, September 12th.

Royce Otc Micro Company Profile

Royce Micro-Cap Trust, Inc is a closed-ended equity mutual fund launched and managed Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies with market capitalization of less than $500 million.