Royce Otc Micro (NYSE:RMT) Share Price Passes Above 50 Day Moving Average - Here's Why

Key Points

• Royce Otc Micro (NYSE:RMT) moved above its 50-day moving average on Friday, trading as high as $13.99 before last changing hands at $13.82.
• The fund recently raised its quarterly dividend to $0.21 per share from $0.19, equal to an annualized yield of 6.1%.
• Insider buying and institutional interest have been notable, with John E. Denneen buying 4,000 shares and institutions reporting a combined 34.98% ownership stake.

Shares of Royce Otc Micro (NYSE:RMT - Get Free Report) crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $13.97 and traded as high as $13.99. Royce Otc Micro shares last traded at $13.82, with a volume of 129,561 shares traded.

Royce Otc Micro Trading Down 0.8%

The stock has a fifty day moving average of $13.97 and a 200-day moving average of $12.73.

Royce Otc Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.1%. This is an increase from Royce Otc Micro's previous quarterly dividend of $0.19.

Insider Buying and Selling at Royce Otc Micro

In other Royce Otc Micro news, insider John E. Denneen acquired 4,000 shares of the stock in a transaction dated Friday, June 5th. The shares were bought at an average cost of $13.70 per share, for a total transaction of $54,800.00. Following the completion of the acquisition, the insider directly owned 12,232 shares of the company's stock, valued at approximately $167,578.40. This trade represents a 48.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royce Otc Micro

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Waterfront Wealth Inc. bought a new position in Royce Otc Micro in the first quarter valued at approximately $2,361,000. Altium Capital Management LLC boosted its holdings in shares of Royce Otc Micro by 179.1% in the 1st quarter. Altium Capital Management LLC now owns 243,050 shares of the financial services provider's stock valued at $2,749,000 after buying an additional 155,972 shares during the last quarter. Diversify Wealth Management LLC bought a new position in shares of Royce Otc Micro in the first quarter valued at $731,000. Blue Bell Private Wealth Management LLC grew its stake in shares of Royce Otc Micro by 8.0% in the fourth quarter. Blue Bell Private Wealth Management LLC now owns 560,788 shares of the financial services provider's stock valued at $5,849,000 after buying an additional 41,438 shares in the last quarter. Finally, Revolve Wealth Partners LLC acquired a new position in Royce Otc Micro during the fourth quarter worth $148,000. 34.98% of the stock is owned by institutional investors.

Royce Otc Micro Company Profile

Royce Micro-Cap Trust, Inc NYSE: RMT is a closed-end management investment company primarily focused on micro-capitalization equity securities. The trust seeks long-term capital appreciation by investing in small U.S. companies that, due to their relatively low market values, often receive less attention from larger institutional investors.

Managed by Royce & Associates, LLC, RMT employs a fundamental, value-oriented investment strategy grounded in in-depth, bottom-up research. Portfolio managers analyze financial statements, market trends and company management to identify undervalued firms with the potential for significant growth.

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