Punch & Associates Investment Management Inc. Purchases New Position in Royce Otc Micro $RMT

Key Points

• Punch & Associates Investment Management acquired 522,665 shares of Royce Micro-Cap Trust (NYSE: RMT) worth approximately $7.65 million, representing about 0.99% of the trust.
• Institutional investors own 34.98% of RMT, while the stock recently traded at $14.18, near its 52-week high of $14.78.
• RMT increased its quarterly dividend to $0.21 per share, implying an annualized payout of $0.84 and a dividend yield of approximately 5.9%; an insider also purchased 4,000 shares.

Punch & Associates Investment Management Inc. purchased a new position in shares of Royce Otc Micro (NYSE:RMT - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 522,665 shares of the financial services provider's stock, valued at approximately $7,652,000. Punch & Associates Investment Management Inc. owned approximately 0.99% of Royce Otc Micro as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RMT. International Assets Investment Management LLC acquired a new position in shares of Royce Otc Micro in the 4th quarter worth approximately $31,000. Hara Capital LLC acquired a new position in Royce Otc Micro during the 2nd quarter valued at about $33,000. Advisory Services Network LLC bought a new position in Royce Otc Micro in the 3rd quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new stake in shares of Royce Otc Micro during the fourth quarter valued at about $40,000. Finally, Heritage Financial Services LLC acquired a new stake in shares of Royce Otc Micro in the 4th quarter worth approximately $105,000. 34.98% of the stock is owned by hedge funds and other institutional investors.

Royce Otc Micro Stock Down 0.1%

NYSE:RMT opened at $14.18 on Thursday. The business's 50-day moving average price is $14.12 and its 200 day moving average price is $13.17. Royce Otc Micro has a 52-week low of $9.52 and a 52-week high of $14.78.

Royce Otc Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were given a dividend of $0.21 per share. This is a positive change from Royce Otc Micro's previous quarterly dividend of $0.19. The ex-dividend date was Thursday, June 11th. This represents a $0.84 annualized dividend and a dividend yield of 5.9%.

Insider Buying and Selling at Royce Otc Micro

In other Royce Otc Micro news, insider John E. Denneen acquired 4,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average price of $13.70 per share, with a total value of $54,800.00. Following the purchase, the insider directly owned 12,232 shares of the company's stock, valued at approximately $167,578.40. This trade represents a 48.59% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company's stock.

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.

Want to see what other hedge funds are holding RMT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Royce Otc Micro (NYSE:RMT - Free Report).

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