Short Interest in Royce Otc Micro (NYSE:RMT) Declines By 57.4%

Key Points

• Short interest plunged 57.4% to 19,130 shares as of August 14, representing roughly 0.2 days to cover and 0.0% of shares outstanding.
• RMT shares traded down 0.9% to $13.98, while remaining within their 52-week range of $9.52 to $14.78.
• The quarterly dividend increased from $0.19 to $0.21 per share, equating to an annualized $0.84 payout and a 6.0% yield; an insider also purchased 4,000 shares.

Royce Otc Micro (NYSE:RMT - Get Free Report) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 19,130 shares, a decrease of 57.4% from the July 30th total of 44,929 shares. Based on an average trading volume of 113,171 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are sold short.

Royce Otc Micro Trading Down 0.9%

RMT stock traded down $0.12 during midday trading on Friday, reaching $13.98. The stock had a trading volume of 81,691 shares, compared to its average volume of 97,928. Royce Otc Micro has a 52-week low of $9.52 and a 52-week high of $14.78. The company's fifty day simple moving average is $14.12 and its 200 day simple moving average is $13.20.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.0%. This is a positive change from Royce Otc Micro's previous quarterly dividend of $0.19. The ex-dividend date was Thursday, June 11th.

Insider Buying and Selling at Royce Otc Micro

In other news, insider John E. Denneen bought 4,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were acquired at an average price of $13.70 per share, for a total transaction of $54,800.00. Following the completion of the transaction, the insider directly owned 12,232 shares in the company, valued at $167,578.40. The trade was a 48.59% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Royce Otc Micro

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new position in shares of Royce Otc Micro during the 4th quarter worth approximately $148,000. Royal Bank of Canada boosted its stake in Royce Otc Micro by 5.2% during the first quarter. Royal Bank of Canada now owns 207,934 shares of the financial services provider's stock worth $1,753,000 after buying an additional 10,290 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Royce Otc Micro by 9.6% in the 1st quarter. NewEdge Advisors LLC now owns 30,469 shares of the financial services provider's stock valued at $257,000 after buying an additional 2,675 shares in the last quarter. Guggenheim Capital LLC grew its holdings in Royce Otc Micro by 6.6% in the 2nd quarter. Guggenheim Capital LLC now owns 82,969 shares of the financial services provider's stock valued at $767,000 after buying an additional 5,122 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in shares of Royce Otc Micro by 0.5% in the 2nd quarter. Bank of America Corp DE now owns 533,966 shares of the financial services provider's stock worth $4,939,000 after acquiring an additional 2,860 shares during the last quarter. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Royce Otc Micro Company Profile

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.

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