Bank of America Corp DE Increases Holdings in Royce Small-Cap Trust, Inc. $RVT

Key Points

• Bank of America increased its RVT stake by 1.9% in the first quarter, adding 108,629 shares to own 5.84 million shares, or 4.88% of Royce Small-Cap Trust, valued at approximately $96.9 million.
• RVT shares opened at $18.82, near their 12-month high of $18.88, while institutional investors collectively own 25.57% of the trust.
• Royce Small-Cap Trust raised its quarterly dividend to $0.31 per share from $0.30, representing an annualized payout of $1.24 and a 6.6% yield.

Bank of America Corp DE grew its holdings in shares of Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,836,337 shares of the financial services provider's stock after acquiring an additional 108,629 shares during the quarter. Bank of America Corp DE owned 4.88% of Royce Small-Cap Trust worth $96,883,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RVT. Newbridge Financial Services Group Inc. bought a new position in shares of Royce Small-Cap Trust during the 2nd quarter valued at $28,000. Fairway Wealth LLC bought a new stake in Royce Small-Cap Trust in the first quarter worth $33,000. Private Wealth Asset Management LLC purchased a new stake in Royce Small-Cap Trust during the fourth quarter valued at about $52,000. Assetmark Inc. boosted its position in Royce Small-Cap Trust by 176.4% during the first quarter. Assetmark Inc. now owns 3,701 shares of the financial services provider's stock valued at $61,000 after buying an additional 2,362 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Royce Small-Cap Trust by 28.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 4,500 shares of the financial services provider's stock valued at $72,000 after buying an additional 1,000 shares during the last quarter. 25.57% of the stock is currently owned by institutional investors.

Royce Small-Cap Trust Stock Up 1.4%

Shares of NYSE:RVT opened at $18.82 on Friday. The stock's 50-day moving average price is $18.13 and its 200-day moving average price is $17.88. Royce Small-Cap Trust, Inc. has a 12-month low of $14.97 and a 12-month high of $18.88.

Royce Small-Cap Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were given a $0.31 dividend. The ex-dividend date was Thursday, June 11th. This is an increase from Royce Small-Cap Trust's previous quarterly dividend of $0.30. This represents a $1.24 annualized dividend and a yield of 6.6%.

Royce Small-Cap Trust Profile

Royce Small-Cap Trust NYSE: RVT is a closed-end management investment company that seeks to provide investors with long-term capital appreciation by investing primarily in the common stocks of small-capitalization companies. The trust is structured to trade on the New York Stock Exchange, offering shares that represent an undivided interest in a diversified portfolio of U.S. small-cap equities. As a closed-end vehicle, the fund may employ leverage to enhance returns and reinvest dividends to support growth over time.

The trust’s investment strategy is driven by fundamental, bottom-up research, focusing on companies with market capitalizations typically falling within the small-cap spectrum.

Want to see what other hedge funds are holding RVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source