Commerce Bank Purchases New Position in ROYCE OTC MICRO (NYSE:RMT)

Key Points

• Commerce Bank has acquired 29,712 shares of ROYCE OTC MICRO (NYSE:RMT) valued at approximately $250,000, indicating an initial investment in the financial services provider.
• In the fourth quarter, several institutional investors, including Wells Fargo and Revolve Wealth Partners, made significant changes to their positions in ROYCE OTC MICRO, contributing to 34.98% of the stock being owned by institutional investors.
• ROYCE OTC MICRO recently announced a quarterly dividend of $0.18 per share, with an annualized amount of $0.72 and a dividend yield of 7.7%.

Commerce Bank acquired a new position in ROYCE OTC MICRO (NYSE:RMT - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,712 shares of the financial services provider's stock, valued at approximately $250,000. Commerce Bank owned approximately 0.06% of ROYCE OTC MICRO at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RMT. Revolve Wealth Partners LLC bought a new position in shares of ROYCE OTC MICRO during the fourth quarter valued at $148,000. Wells Fargo & Company MN increased its holdings in shares of ROYCE OTC MICRO by 3.9% during the fourth quarter. Wells Fargo & Company MN now owns 604,206 shares of the financial services provider's stock valued at $5,891,000 after acquiring an additional 22,508 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of ROYCE OTC MICRO during the fourth quarter valued at $3,469,000. Jaffetilchin Investment Partners LLC raised its position in ROYCE OTC MICRO by 12.5% in the 4th quarter. Jaffetilchin Investment Partners LLC now owns 15,418 shares of the financial services provider's stock worth $150,000 after buying an additional 1,714 shares during the last quarter. Finally, Walleye Capital LLC raised its position in ROYCE OTC MICRO by 11.9% in the 4th quarter. Walleye Capital LLC now owns 47,150 shares of the financial services provider's stock worth $460,000 after buying an additional 4,999 shares during the last quarter. Institutional investors own 34.98% of the company's stock.

ROYCE OTC MICRO Price Performance

NYSE:RMT traded up $0.22 during mid-day trading on Tuesday, reaching $9.68. The company's stock had a trading volume of 36,930 shares, compared to its average volume of 136,858. ROYCE OTC MICRO has a 12-month low of $7.25 and a 12-month high of $10.43. The firm's fifty day moving average price is $9.30 and its two-hundred day moving average price is $8.96.

ROYCE OTC MICRO Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th were paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date was Thursday, June 12th.

ROYCE OTC MICRO 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.