Lazard Asset Management LLC Invests $3.39 Million in Royce Otc Micro $RMT

Key Points

• Lazard Asset Management acquired 300,000 shares of Royce Micro-Cap Trust, valued at approximately $3.39 million, giving it a 0.57% stake. Institutional investors and hedge funds collectively own 34.98% of the fund.
• Insider John E. Denneen purchased 4,000 shares for $54,800, increasing his holdings by 48.59%; corporate insiders own 0.19% of the stock.
• RMT shares opened at $13.63, while the fund increased its quarterly dividend from $0.19 to $0.21, representing an annualized payout of $0.84 and a 6.2% yield.

Lazard Asset Management LLC acquired a new stake in shares of Royce Otc Micro (NYSE:RMT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 300,000 shares of the financial services provider's stock, valued at approximately $3,393,000. Lazard Asset Management LLC owned about 0.57% of Royce Otc Micro as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC acquired a new position in Royce Otc Micro during the fourth quarter valued at approximately $31,000. Advisory Services Network LLC acquired a new stake in shares of Royce Otc Micro in the third quarter worth $36,000. Kestra Advisory Services LLC bought a new stake in shares of Royce Otc Micro during the 4th quarter worth $40,000. Heritage Financial Services LLC bought a new stake in shares of Royce Otc Micro during the 4th quarter worth $105,000. Finally, Closed End Fund Advisors Inc. acquired a new position in Royce Otc Micro in the 4th quarter valued at $144,000. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Royce Otc Micro news, insider John E. Denneen purchased 4,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $13.70 per share, with a total value of $54,800.00. Following the transaction, the insider directly owned 12,232 shares in the company, valued at approximately $167,578.40. This represents a 48.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Royce Otc Micro Stock Down 0.5%

Shares of NYSE:RMT opened at $13.63 on Friday. The stock's 50-day moving average is $14.00 and its 200-day moving average is $12.82. Royce Otc Micro has a 52-week low of $9.25 and a 52-week high of $14.78.

Royce Otc Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were given a $0.21 dividend. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.84 annualized dividend and a yield of 6.2%. This is an increase from Royce Otc Micro's previous quarterly dividend of $0.19.

Royce Otc Micro Profile

Royce Micro-Cap Trust, Inc NYSE: RMT is a closed-end management investment company primarily focused on micro-capitalization equity securities. The trust seeks long-term capital appreciation by investing in small U.S. companies that, due to their relatively low market values, often receive less attention from larger institutional investors.

Managed by Royce & Associates, LLC, RMT employs a fundamental, value-oriented investment strategy grounded in in-depth, bottom-up research. Portfolio managers analyze financial statements, market trends and company management to identify undervalued firms with the potential for significant growth.

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