Advisors Asset Management Inc. Reduces Stock Position in Royce Small-Cap Trust, Inc. $RVT

Key Points

• Advisors Asset Management Inc. sold 108,906 shares of Royce Small-Cap Trust, Inc. ($RVT), decreasing its holdings by 15.3% in the first quarter.
• Royce Small-Cap Trust recently announced a quarterly dividend of $0.29 per share, with a dividend yield of 7.2% for the upcoming payment on September 25th.
• Insider Charles M. Royce sold 21,735 shares at an average price of $14.96, which reduced his ownership by 20%, leaving him with 86,938 shares valued at approximately $1.3 million.

Advisors Asset Management Inc. trimmed its stake in Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 15.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 604,317 shares of the financial services provider's stock after selling 108,906 shares during the period. Advisors Asset Management Inc. owned approximately 0.52% of Royce Small-Cap Trust worth $8,605,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Royce Small-Cap Trust by 1.5% in the 4th quarter. Bank of America Corp DE now owns 5,848,923 shares of the financial services provider's stock valued at $92,413,000 after purchasing an additional 87,541 shares during the last quarter. LPL Financial LLC lifted its stake in shares of Royce Small-Cap Trust by 52.3% in the 1st quarter. LPL Financial LLC now owns 1,919,691 shares of the financial services provider's stock valued at $27,336,000 after purchasing an additional 659,578 shares during the last quarter. Royal Bank of Canada lifted its stake in shares of Royce Small-Cap Trust by 3.1% in the 1st quarter. Royal Bank of Canada now owns 1,601,377 shares of the financial services provider's stock valued at $22,803,000 after purchasing an additional 47,759 shares during the last quarter. Lazard Asset Management LLC lifted its stake in shares of Royce Small-Cap Trust by 13.2% in the 4th quarter. Lazard Asset Management LLC now owns 556,039 shares of the financial services provider's stock valued at $8,785,000 after purchasing an additional 65,046 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Royce Small-Cap Trust by 14.1% in the 1st 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 during the last quarter. 25.57% of the stock is owned by institutional investors.

Insider Transactions at Royce Small-Cap Trust

In related news, insider Charles M. Royce sold 21,735 shares of the business's 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 completion of the transaction, the insider owned 86,938 shares in the company, valued at $1,300,592.48. The trade was a 20.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.08% of the stock is currently owned by insiders.

Royce Small-Cap Trust Price Performance

Shares of RVT stock traded down $0.09 on Tuesday, reaching $16.28. 114,672 shares of the company's stock were exchanged, compared to its average volume of 280,604. The company's fifty day simple moving average is $15.56 and its 200 day simple moving average is $14.81. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 12th will be issued a dividend of $0.29 per share. The ex-dividend date is Friday, September 12th. This represents a $1.16 dividend on an annualized basis and a yield of 7.1%.

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.