ROYCE OTC MICRO (NYSE:RMT) Sets New 52-Week High - Still a Buy?

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 - Get Free Report) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $10.43 and last traded at $10.42, with a volume of 49624 shares. The stock had previously closed at $10.26.

ROYCE OTC MICRO Trading Up 0.3%

The company's 50-day moving average is $9.81 and its 200 day moving average is $9.01.

ROYCE OTC MICRO Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Stockholders of record on Friday, September 12th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, September 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 7.0%.

Hedge Funds Weigh In On ROYCE OTC MICRO

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC grew its holdings in ROYCE OTC MICRO by 7.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 745,898 shares of the financial services provider's stock valued at $6,288,000 after purchasing an additional 50,461 shares during the period. Hennion & Walsh Asset Management Inc. increased its holdings in ROYCE OTC MICRO by 101.4% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 58,426 shares of the financial services provider's stock worth $493,000 after acquiring an additional 29,416 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new position in ROYCE OTC MICRO during the first quarter worth $124,000. Blue Bell Private Wealth Management LLC lifted its holdings in ROYCE OTC MICRO by 6.8% during the first quarter. Blue Bell Private Wealth Management LLC now owns 461,992 shares of the financial services provider's stock valued at $3,895,000 after purchasing an additional 29,481 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its holdings in ROYCE OTC MICRO by 8.5% during the first quarter. Wolverine Asset Management LLC now owns 384,130 shares of the financial services provider's stock valued at $3,238,000 after purchasing an additional 30,225 shares in the last quarter. Institutional investors and hedge funds own 34.98% of the company's stock.

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.