Royce Otc Micro (NYSE:RMT) Reaches New 1-Year High - Here's What Happened

Key Points

• Royce Otc Micro (NYSE:RMT) reached a new 52-week high of $10.43 in mid-day trading, with the last trading price at $10.42.
• The company announced a quarterly dividend of $0.18 per share, set to be paid on September 25th, resulting in a 6.9% dividend yield.
• Notable institutional investments were made in Royce Otc Micro, with hedge funds owning approximately 34.98% of the stock.

Royce Otc Micro (NYSE:RMT - )'s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $10.43 and last traded at $10.42, with a volume of 49624 shares traded. The stock had previously closed at $10.26.

Royce Otc Micro Trading Up 1.8%

The company has a fifty day moving average of $9.76 and a 200-day moving average of $8.98.

Royce Otc Micro Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Friday, September 12th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 6.9%. The ex-dividend date is Friday, September 12th.

Institutional Trading of Royce Otc Micro

Hedge funds and other institutional investors have recently modified their holdings of the company. Elequin Capital LP purchased a new stake in shares of Royce Otc Micro during the first quarter worth $51,000. Eisler Capital Management Ltd. purchased a new stake in shares of Royce Otc Micro during the first quarter worth $84,000. Verus Capital Partners LLC purchased a new stake in shares of Royce Otc Micro during the second quarter worth $107,000. JFS Wealth Advisors LLC purchased a new stake in shares of Royce Otc Micro during the second quarter worth $129,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in shares of Royce Otc Micro during the first quarter worth $124,000. 34.98% of the stock is currently owned by hedge funds and other institutional investors.

Royce Otc Micro Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.