Bank of America Corp DE Purchases New Stake in Royce Otc Micro $RMT

Key Points

• Bank of America purchased 602,498 shares of Royce Micro-Cap Trust in the second quarter, valued at approximately $8.8 million and representing about 1.15% of the fund.
• Several other institutional investors also initiated positions, contributing to institutional ownership of approximately 34.98% of RMT’s outstanding shares.
• Royce Micro-Cap Trust raised its quarterly dividend from $0.21 to $0.23 per share, equivalent to $0.92 annually and a 6.8% yield; shares recently traded at $13.46.

Bank of America Corp DE purchased a new position in shares of Royce Otc Micro (NYSE:RMT - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 602,498 shares of the financial services provider's stock, valued at approximately $8,821,000. Bank of America Corp DE owned about 1.15% of Royce Otc Micro at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RMT. Roberts Glore & Co. Inc. IL purchased a new position in Royce Otc Micro in the second quarter worth approximately $809,000. Commerce Bank acquired a new stake in shares of Royce Otc Micro during the 2nd quarter worth about $435,000. Evolve Private Wealth LLC acquired a new stake in shares of Royce Otc Micro during the 2nd quarter worth about $1,647,000. EP Wealth Advisors LLC acquired a new stake in shares of Royce Otc Micro during the 2nd quarter worth about $579,000. Finally, Bard Associates Inc. purchased a new stake in Royce Otc Micro in the 2nd quarter valued at about $1,813,000. Hedge funds and other institutional investors own 34.98% of the company's stock.

Royce Otc Micro Stock Up 0.5%

NYSE RMT opened at $13.46 on Friday. The firm's 50-day moving average is $13.89 and its two-hundred day moving average is $13.41. Royce Otc Micro has a 12 month low of $9.52 and a 12 month high of $14.78.

Royce Otc Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Friday, September 11th will be issued a $0.23 dividend. The ex-dividend date is Friday, September 11th. This represents a $0.92 annualized dividend and a dividend yield of 6.8%. This is a boost from Royce Otc Micro's previous quarterly dividend of $0.21.

Royce Otc Micro Company Profile

Royce Micro-Cap Trust, Inc NYSE: RMT is a publicly traded closed-end investment company focused on investing in micro-cap stocks. Rather than operating businesses or selling products directly, the fund provides investors with access to a professionally managed portfolio of smaller publicly traded companies.

The trust primarily invests in U.S. micro-cap equities, with portfolio holdings selected through fundamental research and a long-term investment approach. Its strategy generally emphasizes companies that the investment adviser believes have attractive business prospects, strong financial characteristics, or the potential for improved performance over time.

Royce Micro-Cap Trust is managed by Royce Investment Partners, an investment firm specializing in small-cap and micro-cap equities.

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