Rivernorth Capital Management LLC Has $11.92 Million Holdings in Royce Otc Micro $RMT

Key Points

• Rivernorth Capital Management reduced its RMT position by 9.4% in the second quarter, selling 84,568 shares. It still owned 813,982 shares valued at approximately $11.92 million, representing 1.5% of Royce Micro-Cap Trust.
• Institutional investors and hedge funds own 34.98% of RMT, with several firms—including Royal Bank of Canada, NewEdge Advisors, Guggenheim Capital and Bank of America—adding to their positions.
• RMT opened at $13.98, near its 52-week high of $14.78, while insider John E. Denneen purchased 4,000 shares worth $54,800. The trust focuses on long-term capital appreciation through investments in undervalued U.S. micro-cap companies.

Rivernorth Capital Management LLC cut its position in Royce Otc Micro (NYSE:RMT - Free Report) by 9.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 813,982 shares of the financial services provider's stock after selling 84,568 shares during the quarter. Rivernorth Capital Management LLC owned about 1.50% of Royce Otc Micro worth $11,917,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Revolve Wealth Partners LLC bought a new position in Royce Otc Micro during the fourth quarter worth about $148,000. Royal Bank of Canada raised its stake in Royce Otc Micro by 5.2% in the first quarter. Royal Bank of Canada now owns 207,934 shares of the financial services provider's stock valued at $1,753,000 after buying an additional 10,290 shares during the period. NewEdge Advisors LLC lifted its position in shares of Royce Otc Micro by 9.6% in the first quarter. NewEdge Advisors LLC now owns 30,469 shares of the financial services provider's stock valued at $257,000 after buying an additional 2,675 shares during the last quarter. Guggenheim Capital LLC lifted its position in shares of Royce Otc Micro by 6.6% in the second quarter. Guggenheim Capital LLC now owns 82,969 shares of the financial services provider's stock valued at $767,000 after buying an additional 5,122 shares during the last quarter. Finally, Bank of America Corp DE boosted 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 acquiring an additional 2,860 shares during the period. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Royce Otc Micro Stock Performance

RMT opened at $13.98 on Monday. The stock's fifty day simple moving average is $14.12 and its 200 day simple moving average is $13.21. Royce Otc Micro has a 1-year low of $9.52 and a 1-year high of $14.78.

Insiders Place Their Bets

In other news, insider John E. Denneen bought 4,000 shares of the firm's 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 completion of the transaction, the insider owned 12,232 shares of the company's stock, valued at $167,578.40. This trade represents a 48.59% increase in their ownership of the stock. The purchase was disclosed in a 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 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.

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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