Wolverine Asset Management LLC Has $3.24 Million Stock Position in Royce Otc Micro (NYSE:RMT)

Key Points

• Wolverine Asset Management LLC increased its position in ROYCE OTC MICRO by 8.5%, owning approximately 0.76% of the company with a value of $3.24 million after purchasing 30,225 additional shares.
• Other institutional investors, including Allspring Global Investments and Hennion & Walsh Asset Management, also raised their stakes in ROYCE OTC MICRO significantly during the first quarter.
• The company declared a quarterly dividend of $0.18 per share, resulting in an annualized yield of 7.6%, despite a recent cut in dividends.

Wolverine Asset Management LLC lifted its stake in Royce Otc Micro (NYSE:RMT - Free Report) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 384,130 shares of the financial services provider's stock after purchasing an additional 30,225 shares during the period. Wolverine Asset Management LLC owned 0.76% of Royce Otc Micro worth $3,238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Shaker Financial Services LLC lifted its holdings in shares of Royce Otc Micro by 23.5% in the first quarter. Shaker Financial Services LLC now owns 907,197 shares of the financial services provider's stock valued at $7,648,000 after purchasing an additional 172,411 shares in the last quarter. Commerce Bank bought a new stake in shares of Royce Otc Micro in the first quarter valued at about $250,000. LPL Financial LLC lifted its holdings in shares of Royce Otc Micro by 13.3% in the first quarter. LPL Financial LLC now owns 671,106 shares of the financial services provider's stock valued at $5,657,000 after purchasing an additional 78,528 shares in the last quarter. Readystate Asset Management LP lifted its holdings in shares of Royce Otc Micro by 159.2% in the first quarter. Readystate Asset Management LP now owns 88,772 shares of the financial services provider's stock valued at $748,000 after purchasing an additional 54,518 shares in the last quarter. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Royce Otc Micro by 6.8% in the first quarter. Blue Bell Private Wealth Management LLC now owns 461,992 shares of the financial services provider's stock valued at $3,895,000 after purchasing an additional 29,481 shares in the last quarter. 34.98% of the stock is currently owned by institutional investors.

Royce Otc Micro Price Performance

Shares of NYSE:RMT traded up $0.15 during midday trading on Wednesday, reaching $9.88. The company had a trading volume of 58,797 shares, compared to its average volume of 137,232. The business's 50 day moving average price is $9.32 and its 200 day moving average price is $8.96. Royce Otc Micro has a 1-year low of $7.25 and a 1-year high of $10.43.

Royce Otc Micro Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.3%.

About Royce Otc Micro

Royce Micro-Cap Trust, Inc is a closed-ended equity mutual fund launched and managed Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies with market capitalization of less than $500 million.