Royce Otc Micro (NYSE:RMT) Stock Price Crosses Below 200-Day Moving Average - Should You Sell?

Key Points

• RMT shares fell below their 200-day moving average, reaching $12.81 before last trading at $13.05, down 1.4%.
• Royce Micro-Cap Trust increased its quarterly dividend to $0.23 per share, equal to an annualized $0.92 dividend and a 7.0% yield.
• Institutional investors own approximately 35% of the company, with several major funds recently increasing their positions.

Royce Otc Micro (NYSE:RMT - Get Free Report) passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.07 and traded as low as $12.81. Royce Otc Micro shares last traded at $13.05, with a volume of 114,107 shares.

Royce Otc Micro Trading Down 1.4%

The stock's fifty day moving average price is $13.40 and its 200 day moving average price is $13.07.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Friday, September 11th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 11th. This represents a $0.92 annualized dividend and a yield of 7.0%. This is a positive change from Royce Otc Micro's previous quarterly dividend of $0.21.

Institutional Trading of Royce Otc Micro

A number of institutional investors and hedge funds have recently modified their holdings of the business. Saba Capital Management L.P. boosted its holdings in shares of Royce Otc Micro by 13.4% in 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 last quarter. Allspring Global Investments Holdings LLC increased its holdings in Royce Otc Micro by 1.1% during 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 buying an additional 11,524 shares during the last quarter. Rivernorth Capital Management LLC raised its position in Royce Otc Micro by 0.6% in the first 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 period. Blue Bell Private Wealth Management LLC raised its holdings in Royce Otc Micro by 6.1% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 700,377 shares of the financial services provider's stock worth $9,413,000 after purchasing an additional 40,456 shares during the period. Finally, Bank of America Corp DE purchased a new position in shares of Royce Otc Micro during the 2nd quarter valued at about $8,821,000. 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 long-term growth of capital. The fund invests primarily in shares of U.S. micro-cap companies, generally emphasizing businesses that Royce's investment team believes have the potential for sustainable growth and attractive long-term returns.

The trust provides investors with diversified exposure to smaller publicly traded companies across a range of industries. Its portfolio may include common stocks and other equity-related investments, with security selection based on fundamental research and analysis of factors such as business quality, financial condition, valuation and growth prospects.

RMT is managed by Royce Investment Partners, an investment management firm known for its focus on small-cap and micro-cap equities.

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