Shaker Financial Services LLC Sells 92,006 Shares of Royce Small-Cap Trust, Inc. $RVT

Key Points

• Shaker Financial Services reduced its RVT stake by 15.2%, selling 92,006 shares and retaining 513,739 shares valued at approximately $8.8 million. RVT remains the firm’s largest portfolio holding, representing 2.9% of its portfolio.
• Other institutional investors increased or initiated positions in Royce Small-Cap Trust, with hedge funds and institutions collectively owning 25.57% of the stock.
• RVT recently traded at $16.54, below its 50-day and 200-day moving averages, while the trust raised its quarterly dividend to $0.33 per share, implying an 8.0% annualized yield.

Shaker Financial Services LLC decreased its stake in shares of Royce Small-Cap Trust, Inc. (NYSE:RVT - Free Report) by 15.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 513,739 shares of the financial services provider's stock after selling 92,006 shares during the period. Royce Small-Cap Trust accounts for 2.9% of Shaker Financial Services LLC's portfolio, making the stock its largest position. Shaker Financial Services LLC owned about 0.41% of Royce Small-Cap Trust worth $8,800,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RVT. Bank of America Corp DE lifted its stake in shares of Royce Small-Cap Trust by 1.9% during the first quarter. Bank of America Corp DE now owns 5,836,337 shares of the financial services provider's stock worth $96,883,000 after purchasing an additional 108,629 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its position in shares of Royce Small-Cap Trust by 45.1% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 177,676 shares of the financial services provider's stock worth $3,282,000 after purchasing an additional 55,191 shares during the last quarter. RB Capital Management LLC bought a new position in Royce Small-Cap Trust during the 2nd quarter worth approximately $3,162,000. Comprehensive Money Management Services LLC acquired a new position in shares of Royce Small-Cap Trust in the 2nd quarter worth approximately $1,292,000. Finally, Concorde Asset Management LLC acquired a new position in shares of Royce Small-Cap Trust in the 2nd quarter worth approximately $1,008,000. Hedge funds and other institutional investors own 25.57% of the company's stock.

Royce Small-Cap Trust Price Performance

Shares of NYSE:RVT traded down $0.23 during trading on Wednesday, reaching $16.54. 156,065 shares of the company's stock traded hands, compared to its average volume of 286,071. Royce Small-Cap Trust, Inc. has a 12 month low of $14.97 and a 12 month high of $19.12. The company has a 50 day moving average of $17.97 and a 200-day moving average of $18.00.

Royce Small-Cap Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Friday, September 11th were paid a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 8.0%. The ex-dividend date of this dividend was Friday, September 11th. This is a positive change from Royce Small-Cap Trust's previous quarterly dividend of $0.31.

Royce Small-Cap Trust Company Profile

Royce Small-Cap Trust, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol RVT. The trust seeks long-term capital appreciation by investing primarily in equity securities of small-capitalization companies.

The trust's portfolio generally includes common stocks of U.S. companies across a range of industries. Its investment approach emphasizes fundamental research and the selection of smaller businesses that Royce Investment Partners, the trust's investment adviser, believes offer attractive long-term growth potential and strong business characteristics.

Founded in 1986, Royce Small-Cap Trust is managed as part of Royce Investment Partners' small-cap investment platform.

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