Modern Wealth Management LLC Has $9.06 Million Stock Position in ROYCE OTC MICRO $RMT

Key Points

• Modern Wealth Management LLC increased its stake in Royce Otc Micro by 11.0%, acquiring an additional 106,092 shares to reach a total of 1,074,754 shares, valued at approximately $9,060,000.
• Royce Otc Micro announced a quarterly dividend of $0.18 per share, which translates to a 6.9% yield, to be paid on September 25th to shareholders of record as of September 12th.
• Shares of Royce Otc Micro opened at $10.43, remaining within a 1-year range of $7.25 to $10.45.

Modern Wealth Management LLC boosted its stake in shares of ROYCE OTC MICRO (NYSE:RMT - Free Report) by 11.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,074,754 shares of the financial services provider's stock after purchasing an additional 106,092 shares during the period. Modern Wealth Management LLC owned about 2.12% of ROYCE OTC MICRO worth $9,060,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in ROYCE OTC MICRO by 7.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 745,898 shares of the financial services provider's stock valued at $6,288,000 after purchasing an additional 50,461 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its position in ROYCE OTC MICRO by 101.4% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 58,426 shares of the financial services provider's stock valued at $493,000 after purchasing an additional 29,416 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in ROYCE OTC MICRO during the first quarter valued at approximately $124,000. Blue Bell Private Wealth Management LLC grew its position in ROYCE OTC MICRO by 6.8% during the first quarter. Blue Bell Private Wealth Management LLC now owns 461,992 shares of the financial services provider's stock valued at $3,895,000 after purchasing an additional 29,481 shares in the last quarter. Finally, Wolverine Asset Management LLC grew its position in ROYCE OTC MICRO by 8.5% during the first quarter. Wolverine Asset Management LLC now owns 384,130 shares of the financial services provider's stock valued at $3,238,000 after purchasing an additional 30,225 shares in the last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

ROYCE OTC MICRO Stock Performance

RMT traded up $0.07 on Wednesday, reaching $10.30. 25,109 shares of the company traded hands, compared to its average volume of 136,390. The stock's 50 day moving average price is $9.81 and its 200-day moving average price is $9.01. ROYCE OTC MICRO has a 52-week low of $7.25 and a 52-week high of $10.45.

ROYCE OTC MICRO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be paid a $0.18 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.72 dividend on an annualized basis and a yield of 7.0%.

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.