LPL Financial LLC Buys 78,528 Shares of Royce Otc Micro (NYSE:RMT)

Key Points

• LPL Financial LLC increased its stake in ROYCE OTC MICRO by 13.3%, owning 1.32% of the company worth approximately $5.66 million after acquiring 78,528 additional shares in Q1.
• Recent dividend declared by the company stands at $0.18 per share, translating to an annualized dividend of $0.72 with a yield of 7.4%.
• The stock price of ROYCE OTC MICRO has seen a recent increase of 3.0%, with a current trading range between a 52-week low of $7.25 and a high of $10.43.

LPL Financial LLC increased its holdings in shares of Royce Otc Micro (NYSE:RMT - Free Report) by 13.3% in the first quarter, according to its most recent filing with the SEC. The fund owned 671,106 shares of the financial services provider's stock after acquiring an additional 78,528 shares during the period. LPL Financial LLC owned about 1.32% of Royce Otc Micro worth $5,657,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Allspring Global Investments Holdings LLC increased its holdings in Royce Otc Micro by 7.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 745,898 shares of the financial services provider's stock worth $6,288,000 after purchasing an additional 50,461 shares during the period. Shaker Financial Services LLC increased its holdings in Royce Otc Micro by 18.7% during the 4th quarter. Shaker Financial Services LLC now owns 734,786 shares of the financial services provider's stock worth $7,164,000 after purchasing an additional 115,516 shares during the period. Wells Fargo & Company MN increased its holdings in Royce Otc Micro by 3.9% during the 4th quarter. Wells Fargo & Company MN now owns 604,206 shares of the financial services provider's stock worth $5,891,000 after purchasing an additional 22,508 shares during the period. Bank of America Corp DE increased its holdings in Royce Otc Micro by 4.9% during the 4th quarter. Bank of America Corp DE now owns 504,401 shares of the financial services provider's stock worth $4,918,000 after purchasing an additional 23,550 shares during the period. Finally, Blue Bell Private Wealth Management LLC increased its holdings in Royce Otc Micro by 6.8% during the 1st quarter. Blue Bell Private Wealth Management LLC now owns 461,992 shares of the financial services provider's stock worth $3,895,000 after purchasing an additional 29,481 shares during the period. 34.98% of the stock is owned by institutional investors.

Royce Otc Micro Trading Down 1.0%

RMT traded down $0.10 during trading on Friday, hitting $9.72. 100,452 shares of the stock were exchanged, compared to its average volume of 137,162. The firm has a 50 day simple moving average of $9.36 and a 200 day simple moving average of $8.97. Royce Otc Micro has a 1 year low of $7.25 and a 1 year high of $10.43.

Royce Otc Micro Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 7.4%. The ex-dividend date was Thursday, June 12th.

Royce Otc Micro Company 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.