LPL Financial LLC Grows Position in Royce Small-Cap Trust, Inc. (NYSE:RVT)

Key Points

• LPL Financial LLC increased its stake in Royce Small-Cap Trust by 52.3%, holding nearly 1.92 million shares valued at approximately $27.34 million.
• The stock recently declared a quarterly dividend of $0.29 per share, representing an annualized yield of 7.7%.
• Royce Small-Cap Trust shares are currently valued at $14.97, with a 52-week range between $12.12 and $16.93.

LPL Financial LLC boosted its holdings in Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 52.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,919,691 shares of the financial services provider's stock after buying an additional 659,578 shares during the quarter. LPL Financial LLC owned 1.66% of Royce Small-Cap Trust worth $27,336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. NorthStar Asset Management LLC NJ acquired a new stake in Royce Small-Cap Trust in the first quarter valued at approximately $144,000. Abel Hall LLC increased its holdings in shares of Royce Small-Cap Trust by 10.0% in the 1st quarter. Abel Hall LLC now owns 22,000 shares of the financial services provider's stock valued at $313,000 after acquiring an additional 2,000 shares during the last quarter. Triumph Capital Management grew its stake in Royce Small-Cap Trust by 7.7% during the 1st quarter. Triumph Capital Management now owns 62,628 shares of the financial services provider's stock worth $892,000 after buying an additional 4,502 shares during the last quarter. Keyes Stange & Wooten Wealth Management LLC lifted its holdings in shares of Royce Small-Cap Trust by 30.9% in the first quarter. Keyes Stange & Wooten Wealth Management LLC now owns 14,047 shares of the financial services provider's stock valued at $200,000 after buying an additional 3,312 shares during the period. Finally, Private Advisor Group LLC raised its position in Royce Small-Cap Trust by 13.8% during the first quarter. Private Advisor Group LLC now owns 156,122 shares of the financial services provider's stock valued at $2,223,000 after buying an additional 18,927 shares during the period. 25.57% of the stock is currently owned by institutional investors.

Royce Small-Cap Trust Price Performance

Shares of Royce Small-Cap Trust stock traded down $0.11 during midday trading on Thursday, hitting $15.15. 168,364 shares of the company were exchanged, compared to its average volume of 283,317. The firm has a 50 day simple moving average of $15.13 and a 200-day simple moving average of $14.90. Royce Small-Cap Trust, Inc. has a 52 week low of $12.12 and a 52 week high of $16.93.

Royce Small-Cap Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 12th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a dividend yield of 7.7%. The ex-dividend date was Thursday, June 12th.

Insider Activity

In other Royce Small-Cap Trust news, insider Charles M. Royce sold 21,735 shares of the stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $14.96, for a total transaction of $325,155.60. Following the completion of the sale, the insider directly owned 86,938 shares in the company, valued at approximately $1,300,592.48. This trade represents a 20.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.06% of the company's stock.

Royce Small-Cap Trust Company Profile

Royce Value Trust Inc is a close ended equity mutual fund launched and managed by Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund spreads its investments across diversified sectors. It invests in value oriented stocks of small cap and micro cap companies.