Royce Otc Micro (NYSE:RMT) Shares Cross Above Fifty Day Moving Average - Here's Why

Key Points

• Royce Otc Micro (NYSE:RMT) shares have recently crossed above their 50-day moving average of $10.01, trading as high as $10.46.
• The company declared a quarterly dividend of $0.18 per share, reflecting an annualized dividend of $0.72 and a yield of 6.9%.
• Several hedge funds have increased their holdings in Royce Otc Micro, with a reported 34.98% of the stock owned by institutional investors.

Royce Otc Micro (NYSE:RMT - ) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $10.01 and traded as high as $10.46. Royce Otc Micro shares last traded at $10.42, with a volume of 113,356 shares traded.

Royce Otc Micro Stock Performance

The stock's 50 day moving average price is $10.01 and its two-hundred day moving average price is $9.14.

Royce Otc Micro Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 25th. Stockholders of record on Friday, September 12th were 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 was Friday, September 12th.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RMT. Modern Wealth Management LLC grew its stake in Royce Otc Micro by 1.9% in the 2nd quarter. Modern Wealth Management LLC now owns 1,095,569 shares of the financial services provider's stock worth $10,134,000 after acquiring an additional 20,815 shares during the period. Shaker Financial Services LLC grew its stake in Royce Otc Micro by 12.6% in the 2nd quarter. Shaker Financial Services LLC now owns 1,021,723 shares of the financial services provider's stock worth $9,451,000 after acquiring an additional 114,526 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Royce Otc Micro by 11.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 832,898 shares of the financial services provider's stock worth $7,704,000 after acquiring an additional 87,000 shares during the period. LPL Financial LLC grew its stake in Royce Otc Micro by 13.3% in the 1st quarter. LPL Financial LLC now owns 671,106 shares of the financial services provider's stock worth $5,657,000 after acquiring an additional 78,528 shares during the period. Finally, Bank of America Corp DE grew its stake in Royce Otc Micro by 0.5% in the 2nd quarter. Bank of America Corp DE now owns 533,966 shares of the financial services provider's stock worth $4,939,000 after acquiring an additional 2,860 shares during the period. 34.98% of the stock is 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.

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