Royce Otc Micro (NYSE:RMT) Reaches New 1-Year High - Still a Buy?

Key Points

• Royce Otc Micro's stock reached a new 52-week high of $10.67, with a last trading price of $10.63.
• The company declared a quarterly dividend of $0.18, corresponding to an annualized yield of 6.8% for shareholders.
• Institutional investors currently hold 34.98% of Royce Otc Micro's stock, with notable increases in holdings from multiple hedge funds in the second quarter.

Royce Otc Micro (NYSE:RMT - )'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $10.67 and last traded at $10.63, with a volume of 23526 shares changing hands. The stock had previously closed at $10.45.

Royce Otc Micro Price Performance

The company's 50-day simple moving average is $10.15 and its 200-day simple moving average is $9.24.

Royce Otc Micro Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Shareholders of record on Friday, September 12th were given a $0.18 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.72 annualized dividend and a yield of 6.8%.

Institutional Trading of Royce Otc Micro

A number of hedge funds have recently made changes to their positions in the stock. Osaic Holdings Inc. grew its position in shares of Royce Otc Micro by 43.6% during the second quarter. Osaic Holdings Inc. now owns 128,956 shares of the financial services provider's stock worth $1,193,000 after buying an additional 39,133 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Royce Otc Micro by 3.9% in the second quarter. Captrust Financial Advisors now owns 105,315 shares of the financial services provider's stock worth $974,000 after purchasing an additional 3,914 shares during the period. Modern Wealth Management LLC boosted its holdings in Royce Otc Micro by 1.9% in the second quarter. Modern Wealth Management LLC now owns 1,095,569 shares of the financial services provider's stock worth $10,134,000 after purchasing an additional 20,815 shares during the period. Bank of America Corp DE boosted its holdings in Royce Otc Micro by 0.5% in the second quarter. Bank of America Corp DE now owns 533,966 shares of the financial services provider's stock worth $4,939,000 after purchasing an additional 2,860 shares during the period. Finally, Quantedge Capital Pte Ltd boosted its holdings in Royce Otc Micro by 79.9% in the second quarter. Quantedge Capital Pte Ltd now owns 88,697 shares of the financial services provider's stock worth $820,000 after purchasing an additional 39,400 shares during the period. 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.

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