Cetera Investment Advisers Sells 294,485 Shares of Royce Micro-Cap Trust, Inc. (NYSE:RMT)

Cetera Investment Advisers trimmed its position in Royce Micro-Cap Trust, Inc. (NYSE:RMT - Free Report) by 96.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,581 shares of the financial services provider's stock after selling 294,485 shares during the quarter. Cetera Investment Advisers' holdings in Royce Micro-Cap Trust were worth $113,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wolverine Asset Management LLC raised its position in Royce Micro-Cap Trust by 88.5% during the fourth quarter. Wolverine Asset Management LLC now owns 353,905 shares of the financial services provider's stock valued at $3,451,000 after acquiring an additional 166,180 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its position in Royce Micro-Cap Trust by 14.4% during the fourth quarter. Blue Bell Private Wealth Management LLC now owns 432,511 shares of the financial services provider's stock valued at $4,217,000 after acquiring an additional 54,366 shares in the last quarter. Modern Wealth Management LLC bought a new position in Royce Micro-Cap Trust during the fourth quarter valued at approximately $10,142,000. Stephens Inc. AR bought a new position in Royce Micro-Cap Trust during the fourth quarter valued at approximately $124,000. Finally, Bank of America Corp DE raised its position in Royce Micro-Cap Trust by 4.9% during the fourth quarter. Bank of America Corp DE now owns 504,401 shares of the financial services provider's stock valued at $4,918,000 after acquiring an additional 23,550 shares in the last quarter. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Royce Micro-Cap Trust Price Performance

RMT traded up $0.07 during midday trading on Wednesday, hitting $8.90. 118,762 shares of the company's stock traded hands, compared to its average volume of 117,208. The stock's fifty day simple moving average is $8.28 and its 200-day simple moving average is $9.19. Royce Micro-Cap Trust, Inc. has a one year low of $7.25 and a one year high of $10.43.

Royce Micro-Cap Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 12th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.09%. The ex-dividend date of this dividend is Thursday, June 12th.

Insider Activity

In other news, insider Charles M. Royce sold 43,229 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $8.31, for a total value of $359,232.99. Following the sale, the insider now owns 798,970 shares of the company's stock, valued at approximately $6,639,440.70. This represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.18% of the company's stock.

Royce Micro-Cap Trust 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.