Royce Micro-Cap Trust, Inc. (NYSE:RMT) Sees Large Growth in Short Interest

Royce Micro-Cap Trust, Inc. (NYSE:RMT - Get Free Report) saw a significant growth in short interest in the month of 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. Based on an average daily volume of 156,400 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Royce Micro-Cap Trust Stock Performance

NYSE:RMT traded down $0.14 during mid-day trading on Friday, reaching $8.77. The stock had a trading volume of 131,992 shares, compared to its average volume of 117,624. The stock has a 50-day simple moving average of $8.43 and a two-hundred day simple moving average of $9.13. Royce Micro-Cap Trust has a 12 month low of $7.25 and a 12 month high of $10.43.

Royce Micro-Cap Trust Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Thursday, June 12th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, June 12th. This represents a $0.72 dividend on an annualized basis and a yield of 8.21%.

Insider Transactions at Royce Micro-Cap Trust

In other news, insider Charles M. Royce sold 9,160 shares of the firm's stock in a transaction that occurred on Wednesday, April 16th. The shares were sold at an average price of $7.87, for a total transaction of $72,089.20. Following the transaction, the insider now directly owns 961,782 shares of the company's stock, valued at approximately $7,569,224.34. This trade represents a 0.94% 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 this hyperlink. Insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in RMT. Elequin Capital LP bought a new position in Royce Micro-Cap Trust in the first quarter valued at approximately $51,000. Eisler Capital Management Ltd. bought a new stake in shares of Royce Micro-Cap Trust during the first quarter worth $84,000. Stephens Inc. AR bought a new stake in shares of Royce Micro-Cap Trust during the fourth quarter worth $124,000. Oppenheimer & Co. Inc. bought a new stake in shares of Royce Micro-Cap Trust in the first quarter worth $124,000. Finally, Revolve Wealth Partners LLC bought a new stake in shares of Royce Micro-Cap Trust in the fourth quarter worth $148,000. 34.98% of the stock is owned by institutional investors.

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.

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