Raymond James Financial Inc. Trims Stock Position in Royce Small-Cap Trust, Inc. $RVT

Key Points

• Raymond James Financial Inc. reduced its stake in Royce Small-Cap Trust (NYSE:RVT) by 3.1%, now holding approximately 2.58% of the company, valued at around $42.37 million.
• Insider Charles M. Royce sold 21,735 shares at an average price of $14.96, decreasing his ownership by 20% and retaining 86,938 shares valued at about $1.30 million.
• Royce Small-Cap Trust announced a quarterly dividend of $0.29, paid on June 25th, providing an annualized yield of 7.3%.

Raymond James Financial Inc. decreased its position in Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,975,602 shares of the financial services provider's stock after selling 96,484 shares during the quarter. Raymond James Financial Inc. owned 2.58% of Royce Small-Cap Trust worth $42,373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the business. Vermillion Wealth Management Inc. purchased a new stake in Royce Small-Cap Trust in the 4th quarter worth about $29,000. Wolverine Asset Management LLC purchased a new stake in Royce Small-Cap Trust in the 1st quarter worth about $112,000. Farther Finance Advisors LLC raised its position in Royce Small-Cap Trust by 6,938.5% in the 1st quarter. Farther Finance Advisors LLC now owns 10,065 shares of the financial services provider's stock worth $144,000 after purchasing an additional 9,922 shares during the period. NorthStar Asset Management LLC NJ purchased a new stake in Royce Small-Cap Trust in the 1st quarter worth about $144,000. Finally, Inscription Capital LLC purchased a new stake in Royce Small-Cap Trust in the 1st quarter worth about $156,000. Institutional investors own 25.57% of the company's stock.

Insider Activity at Royce Small-Cap Trust

In other news, insider Charles M. Royce sold 21,735 shares of Royce Small-Cap Trust stock in a transaction on Thursday, June 26th. The shares were 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. The trade was a 20.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.08% of the company's stock.

Royce Small-Cap Trust Stock Performance

Shares of NYSE:RVT traded up $0.06 during trading on Monday, reaching $15.98. 503,441 shares of the company were exchanged, compared to its average volume of 315,048. The business's fifty day simple moving average is $15.29 and its 200-day simple moving average is $14.81. Royce Small-Cap Trust, Inc. has a 12-month low of $12.12 and a 12-month high of $16.93.

Royce Small-Cap Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th were paid a $0.29 dividend. This represents a $1.16 annualized dividend and a yield of 7.3%. The ex-dividend date was Thursday, June 12th.

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.