Waterfront Wealth Inc. Acquires Shares of 208,749 Royce Otc Micro $RMT

Key Points

• Waterfront Wealth Inc. disclosed a new first-quarter position in Royce Otc Micro, buying 208,749 shares valued at about $2.36 million and representing roughly 0.40% of the fund.
• Other institutional investors also trimmed or added to their stakes, and overall 34.98% of RMT is now owned by hedge funds and other institutions.
• Royce Otc Micro shares were up 1.9% to $14.11, while the company also raised its quarterly dividend to $0.21 per share from $0.19, implying a 6.0% annualized yield.

Waterfront Wealth Inc. acquired a new position in Royce Otc Micro (NYSE:RMT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 208,749 shares of the financial services provider's stock, valued at approximately $2,361,000. Waterfront Wealth Inc. owned approximately 0.40% of Royce Otc Micro at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of RMT. Steward Partners Investment Advisory LLC increased its position in shares of Royce Otc Micro by 3.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 23,732 shares of the financial services provider's stock valued at $248,000 after buying an additional 897 shares during the period. Guggenheim Capital LLC raised its stake in Royce Otc Micro by 1.6% in the fourth quarter. Guggenheim Capital LLC now owns 60,599 shares of the financial services provider's stock worth $632,000 after buying an additional 926 shares in the last quarter. Sapient Capital LLC lifted its holdings in Royce Otc Micro by 2.3% in the fourth quarter. Sapient Capital LLC now owns 47,740 shares of the financial services provider's stock worth $503,000 after buying an additional 1,068 shares during the period. Diversify Advisory Services LLC lifted its holdings in Royce Otc Micro by 1.9% in the third quarter. Diversify Advisory Services LLC now owns 65,302 shares of the financial services provider's stock worth $686,000 after buying an additional 1,231 shares during the period. Finally, First Trust Advisors LP boosted its position in Royce Otc Micro by 2.6% during the 4th quarter. First Trust Advisors LP now owns 52,271 shares of the financial services provider's stock valued at $545,000 after acquiring an additional 1,328 shares in the last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

Royce Otc Micro Trading Up 1.9%

RMT stock opened at $14.11 on Friday. Royce Otc Micro has a fifty-two week low of $9.13 and a fifty-two week high of $14.78. The business's 50 day moving average price is $13.86 and its two-hundred day moving average price is $12.48.

Royce Otc Micro Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Thursday, June 11th were given a dividend of $0.21 per share. This is a boost from Royce Otc Micro's previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 6.0%. The ex-dividend date was Thursday, June 11th.

Insiders Place Their Bets

In other news, insider John E. Denneen purchased 4,000 shares of Royce Otc Micro stock in a transaction that occurred on Friday, June 5th. The shares were bought at an average cost of $13.70 per share, with a total value of $54,800.00. Following the completion of the purchase, the insider directly owned 12,232 shares in the company, valued at approximately $167,578.40. This trade represents a 48.59% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

About Royce Otc Micro

Royce Micro-Cap Trust, Inc NYSE: RMT is a closed-end management investment company primarily focused on micro-capitalization equity securities. The trust seeks long-term capital appreciation by investing in small U.S. companies that, due to their relatively low market values, often receive less attention from larger institutional investors.

Managed by Royce & Associates, LLC, RMT employs a fundamental, value-oriented investment strategy grounded in in-depth, bottom-up research. Portfolio managers analyze financial statements, market trends and company management to identify undervalued firms with the potential for significant growth.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.