Royce Otc Micro (NYSE:RMT) President Acquires $13,400.00 in Stock

Key Points

• Insider purchase: President Christopher Clark bought 1,000 Royce Micro-Cap Trust shares at an average price of $13.40, increasing his position by 1.32% to 76,624 shares.
• Dividend increase: The trust raised its quarterly dividend to $0.23 per share, or $0.92 annualized, representing a 6.9% yield.
• Market activity: RMT shares fell 0.2% to $13.41, while institutional investors owned 34.98% of the company’s stock.

Royce Otc Micro (NYSE:RMT - Get Free Report) President Christopher Clark purchased 1,000 shares of the stock in a transaction that occurred on Wednesday, September 30th. The stock was acquired at an average cost of $13.40 per share, with a total value of $13,400.00. Following the acquisition, the president owned 76,624 shares in the company, valued at $1,026,761.60. The trade was a 1.32% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Royce Otc Micro Trading Down 0.2%

RMT traded down $0.03 on Thursday, hitting $13.41. The company had a trading volume of 66,034 shares, compared to its average volume of 133,029. Royce Otc Micro has a 12-month low of $9.52 and a 12-month high of $14.78. The business's fifty day simple moving average is $13.85 and its 200 day simple moving average is $13.46.

Royce Otc Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Friday, September 11th were paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 6.9%. The ex-dividend date of this dividend was Friday, September 11th. This is a positive change from Royce Otc Micro's previous quarterly dividend of $0.21.

Hedge Funds Weigh In On Royce Otc Micro

Several large investors have recently modified their holdings of the stock. Saba Capital Management L.P. boosted its stake in Royce Otc Micro by 13.4% during the first quarter. Saba Capital Management L.P. now owns 2,965,400 shares of the financial services provider's stock worth $33,539,000 after buying an additional 350,491 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Royce Otc Micro by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,014,463 shares of the financial services provider's stock valued at $11,474,000 after acquiring an additional 11,524 shares during the period. Rivernorth Capital Management LLC lifted its holdings in shares of Royce Otc Micro by 0.6% in the 1st quarter. Rivernorth Capital Management LLC now owns 898,550 shares of the financial services provider's stock worth $10,163,000 after acquiring an additional 5,424 shares during the last quarter. Bank of America Corp DE bought a new stake in shares of Royce Otc Micro in the 2nd quarter worth about $8,821,000. Finally, Punch & Associates Investment Management Inc. purchased a new position in shares of Royce Otc Micro during the 2nd quarter worth about $7,652,000. Institutional investors own 34.98% of the company's stock.

Royce Otc Micro Company Profile

Royce Micro-Cap Trust, Inc NYSE: RMT is a publicly traded closed-end investment company focused on investing in micro-cap stocks. Rather than operating businesses or selling products directly, the fund provides investors with access to a professionally managed portfolio of smaller publicly traded companies.

The trust primarily invests in U.S. micro-cap equities, with portfolio holdings selected through fundamental research and a long-term investment approach. Its strategy generally emphasizes companies that the investment adviser believes have attractive business prospects, strong financial characteristics, or the potential for improved performance over time.

Royce Micro-Cap Trust is managed by Royce Investment Partners, an investment firm specializing in small-cap and micro-cap equities.

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