Royce Small-Cap Trust, Inc. (NYSE:RVT) Sees Significant Increase in Short Interest

Key Points

• Short interest surged 217.5% in August to 94,208 shares, though only about 0.1% of Royce Small-Cap Trust’s outstanding shares are sold short. The current short-interest ratio is 0.5 days based on average trading volume.
• Several institutional investors initiated positions in RVT, bringing institutional ownership to 25.57% of the fund’s shares.
• RVT shares recently traded at $17.75, while the fund increased its quarterly dividend to $0.33 per share, implying an annualized dividend of $1.32 and a 7.4% yield.

Royce Small-Cap Trust, Inc. (NYSE:RVT - Get Free Report) was the target of a large increase in short interest during the month of August. As of August 31st, there was short interest totaling 94,208 shares, an increase of 217.5% from the August 15th total of 29,674 shares. Approximately 0.1% of the company's shares are short sold. Based on an average trading volume of 171,927 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On Royce Small-Cap Trust

A number of large investors have recently made changes to their positions in RVT. Western Wealth Management LLC purchased a new position in shares of Royce Small-Cap Trust during the first quarter valued at approximately $28,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Royce Small-Cap Trust in the 2nd quarter worth about $28,000. Fairway Wealth LLC bought a new stake in shares of Royce Small-Cap Trust during the 1st quarter valued at about $33,000. Integrated Wealth Concepts LLC bought a new stake in shares of Royce Small-Cap Trust during the 2nd quarter valued at about $35,000. Finally, Private Wealth Asset Management LLC purchased a new position in shares of Royce Small-Cap Trust during the fourth quarter valued at about $52,000. 25.57% of the stock is currently owned by institutional investors.

Royce Small-Cap Trust Stock Performance

Shares of NYSE:RVT traded down $0.15 during midday trading on Friday, hitting $17.75. 176,260 shares of the stock traded hands, compared to its average volume of 165,022. The business's 50 day moving average is $18.38 and its two-hundred day moving average is $18.02. Royce Small-Cap Trust has a one year low of $14.97 and a one year high of $19.12.

Royce Small-Cap Trust Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Friday, September 11th will be given a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a yield of 7.4%. The ex-dividend date of this dividend is 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 NYSE: RVT is a diversified, closed-end investment fund focused on long-term capital growth through investments in small-cap companies. The fund primarily invests in equity securities of U.S. small-cap businesses across a range of industries and sectors.

RVT is managed by Royce Investment Partners, an investment management firm specializing in small-cap and mid-cap equities. The portfolio generally emphasizes companies that the manager believes have attractive business characteristics, growth potential, financial strength, or favorable valuations.

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.