Polar Asset Management Partners Inc. Trims Stock Position in Royce Otc Micro $RMT

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Royce Otc Micro by 70.1% in Q3, selling 167,074 shares and retaining 71,294 shares (0.14% ownership, about $741,000).
• Several other institutions raised positions—Allspring (+15.7%), Modern Wealth (+1.9%), UBS (+1.2%)—and institutional investors now own 34.98% of the company's stock.
• Royce Otc Micro announced a quarterly dividend of $0.19 (annualized $0.76) yielding 6.9%, payable March 30 with an ex-dividend/record date of March 12.

Polar Asset Management Partners Inc. lessened its stake in Royce Otc Micro (NYSE:RMT - Free Report) by 70.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,294 shares of the financial services provider's stock after selling 167,074 shares during the quarter. Polar Asset Management Partners Inc. owned 0.14% of Royce Otc Micro worth $741,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Modern Wealth Management LLC raised its position in Royce Otc Micro by 1.9% during the second quarter. Modern Wealth Management LLC now owns 1,095,569 shares of the financial services provider's stock valued at $10,134,000 after acquiring an additional 20,815 shares in the last quarter. UBS Group AG boosted its position in Royce Otc Micro by 1.2% in the 3rd quarter. UBS Group AG now owns 1,043,876 shares of the financial services provider's stock worth $10,846,000 after purchasing an additional 12,378 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Royce Otc Micro by 15.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 963,753 shares of the financial services provider's stock worth $10,013,000 after purchasing an additional 130,855 shares during the period. Bank of America Corp DE grew its stake in shares of Royce Otc Micro by 0.5% during the 2nd quarter. Bank of America Corp DE now owns 533,966 shares of the financial services provider's stock worth $4,939,000 after purchasing an additional 2,860 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its holdings in shares of Royce Otc Micro by 9.7% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 519,350 shares of the financial services provider's stock valued at $5,396,000 after purchasing an additional 45,803 shares in the last quarter. Hedge funds and other institutional investors own 34.98% of the company's stock.

Royce Otc Micro Trading Down 3.0%

RMT opened at $11.03 on Friday. The firm has a fifty day moving average price of $11.75 and a 200 day moving average price of $10.87. Royce Otc Micro has a 1 year low of $7.25 and a 1 year high of $12.50.

Royce Otc Micro Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Thursday, March 12th will be given a $0.19 dividend. The ex-dividend date is Thursday, March 12th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 6.9%.

Royce Otc Micro Company 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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