ROYCE OTC MICRO (NYSE:RMT) Reaches New 1-Year High - Still a Buy?

Key Points

• Royce Otc Micro (NYSE:RMT) reached a new 52-week high of $10.46 during trading, closing at $10.44 with a volume of 23,179 shares.
• The company declared a quarterly dividend of $0.18 per share, with a yield of 6.9%, payable on September 25th to shareholders of record as of September 12th.
• A notable 34.98% of Royce Otc Micro's stock is owned by institutional investors, with several large firms increasing their holdings recently.

ROYCE OTC MICRO (NYSE:RMT - Get Free Report)'s share price hit a new 52-week high on Thursday . The company traded as high as $10.46 and last traded at $10.44, with a volume of 23179 shares. The stock had previously closed at $10.27.

ROYCE OTC MICRO Trading Up 0.9%

The business has a 50 day simple moving average of $9.87 and a two-hundred day simple moving average of $9.05.

ROYCE OTC MICRO Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Friday, September 12th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 6.9%. The ex-dividend date of this dividend is Friday, September 12th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMT. Revolve Wealth Partners LLC purchased a new position in shares of ROYCE OTC MICRO during the 4th quarter worth $148,000. Bank of America Corp DE raised its position in shares of ROYCE OTC MICRO by 4.9% in the 4th quarter. Bank of America Corp DE now owns 504,401 shares of the financial services provider's stock worth $4,918,000 after buying an additional 23,550 shares during the period. Comprehensive Money Management Services LLC purchased a new position in shares of ROYCE OTC MICRO in the 4th quarter worth $149,000. Hennion & Walsh Asset Management Inc. raised its position in shares of 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 buying an additional 29,416 shares during the period. Finally, Advisor Resource Council purchased a new position in shares of ROYCE OTC MICRO in the 1st quarter worth $301,000. Hedge funds and other institutional investors own 34.98% of the company's stock.

About ROYCE OTC MICRO

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.