LPL Financial LLC Purchases 659,578 Shares of 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 lifted its stake in shares of Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 52.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,919,691 shares of the financial services provider's stock after acquiring an additional 659,578 shares during the quarter. LPL Financial LLC owned approximately 1.66% of Royce Small-Cap Trust worth $27,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC grew its stake in Royce Small-Cap Trust by 122.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 30,849 shares of the financial services provider's stock valued at $439,000 after acquiring an additional 16,966 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Royce Small-Cap Trust by 14.1% in the first quarter. Janney Montgomery Scott LLC now owns 502,022 shares of the financial services provider's stock valued at $7,149,000 after purchasing an additional 62,192 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Royce Small-Cap Trust by 6,938.5% in the first quarter. Farther Finance Advisors LLC now owns 10,065 shares of the financial services provider's stock valued at $144,000 after purchasing an additional 9,922 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Royce Small-Cap Trust in the fourth quarter valued at approximately $185,000. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Royce Small-Cap Trust by 2.6% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 124,521 shares of the financial services provider's stock valued at $1,773,000 after purchasing an additional 3,174 shares in the last quarter. Institutional investors and hedge funds own 25.57% of the company's stock.

Insider Buying and Selling at Royce Small-Cap Trust

In related news, insider Charles M. Royce sold 21,735 shares of Royce Small-Cap Trust stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $14.96, for a total transaction of $325,155.60. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.06% of the stock is owned by corporate insiders.

Royce Small-Cap Trust Stock Up 0.1%

Shares of RVT stock traded up $0.01 during trading hours on Tuesday, reaching $15.24. The company had a trading volume of 210,523 shares, compared to its average volume of 365,424. Royce Small-Cap Trust, Inc. has a 12 month low of $12.12 and a 12 month high of $16.93. The business has a fifty day simple moving average of $15.12 and a 200-day simple moving average of $14.90.

Royce Small-Cap Trust Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 12th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.6%. The ex-dividend date was Thursday, June 12th.

About Royce Small-Cap Trust

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.