Royce Micro-Cap Trust, Inc. (NYSE:RMT) Short Interest Update

Royce Micro-Cap Trust, Inc. (NYSE:RMT - Get Free Report) was the target of a significant growth in short interest in May. As of May 31st, there was short interest totalling 28,100 shares, a growth of 82.5% from the May 15th total of 15,400 shares. Currently, 0.1% of the company's stock are short sold. Based on an average daily volume of 156,400 shares, the days-to-cover ratio is currently 0.2 days.

Royce Micro-Cap Trust Stock Down 0.4%

Shares of RMT traded down $0.04 during mid-day trading on Tuesday, hitting $8.81. 129,848 shares of the company's stock were exchanged, compared to its average volume of 117,692. Royce Micro-Cap Trust has a fifty-two week low of $7.25 and a fifty-two week high of $10.43. The stock's 50-day moving average is $8.46 and its 200-day moving average is $9.11.

Royce Micro-Cap Trust Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 12th will be given a dividend of $0.18 per share. The ex-dividend date is Thursday, June 12th. This represents a $0.72 annualized dividend and a dividend yield of 8.18%.

Insider Transactions at Royce Micro-Cap Trust

In other news, insider Charles M. Royce sold 43,229 shares of the stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $8.31, for a total transaction of $359,232.99. Following the sale, the insider now owns 798,970 shares of the company's stock, valued at approximately $6,639,440.70. This represents a 5.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Royce Micro-Cap Trust

Hedge funds have recently made changes to their positions in the business. Modern Wealth Management LLC raised its holdings in Royce Micro-Cap Trust by 11.0% in the first quarter. Modern Wealth Management LLC now owns 1,074,754 shares of the financial services provider's stock valued at $9,060,000 after acquiring an additional 106,092 shares in the last quarter. Shaker Financial Services LLC grew its position in shares of Royce Micro-Cap Trust by 23.5% during the first quarter. Shaker Financial Services LLC now owns 907,197 shares of the financial services provider's stock worth $7,648,000 after acquiring an additional 172,411 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Royce Micro-Cap Trust by 7.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 745,898 shares of the financial services provider's stock worth $6,288,000 after acquiring an additional 50,461 shares during the last quarter. LPL Financial LLC grew its position in shares of Royce Micro-Cap Trust by 13.3% during the first quarter. LPL Financial LLC now owns 671,106 shares of the financial services provider's stock worth $5,657,000 after acquiring an additional 78,528 shares during the last quarter. Finally, Wells Fargo & Company MN grew its position in shares of Royce Micro-Cap Trust by 3.9% during the fourth quarter. Wells Fargo & Company MN now owns 604,206 shares of the financial services provider's stock worth $5,891,000 after acquiring an additional 22,508 shares during the last quarter. Institutional investors and hedge funds own 34.98% of the company's stock.

About Royce Micro-Cap Trust

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.