Royce Otc Micro (NYSE:RMT) Short Interest Down 34.8% in July

Key Points

• Short interest fell 34.8% to 22,830 shares as of July 15, down from 35,022 shares at the end of June. Short interest represented 0.0% of shares outstanding, with a short-interest ratio of 0.2 days.
• Insider John E. Denneen purchased 4,000 shares at an average price of $13.70, increasing his position by 48.59%. Institutional investors and hedge funds collectively own 34.98% of RMT.
• RMT recently increased its quarterly dividend to $0.21 from $0.19, implying an annualized payout of $0.84 and a 6.2% dividend yield; shares recently traded at $13.65, down 0.3%.

Royce Otc Micro (NYSE:RMT - Get Free Report) was the recipient of a significant decline in short interest in July. As of July 15th, there was short interest totaling 22,830 shares, a decline of 34.8% from the June 30th total of 35,022 shares. Based on an average daily volume of 139,884 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are sold short.

Insiders Place Their Bets

In other news, insider John E. Denneen bought 4,000 shares of the firm's stock in a transaction that occurred on Friday, June 5th. The stock was acquired at an average price of $13.70 per share, with a total value of $54,800.00. Following the completion of the purchase, the insider directly owned 12,232 shares of the company's stock, valued at $167,578.40. This represents a 48.59% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royce Otc Micro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMT. International Assets Investment Management LLC acquired a new position in shares of Royce Otc Micro during the 4th quarter worth about $31,000. Advisory Services Network LLC acquired a new stake in Royce Otc Micro in the 3rd quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new stake in Royce Otc Micro in the 4th quarter valued at approximately $40,000. Heritage Financial Services LLC bought a new position in Royce Otc Micro in the 4th quarter worth approximately $105,000. Finally, Closed End Fund Advisors Inc. acquired a new position in shares of Royce Otc Micro during the fourth quarter worth approximately $144,000. Institutional investors and hedge funds own 34.98% of the company's stock.

Royce Otc Micro Trading Down 0.3%

NYSE RMT traded down $0.04 on Friday, hitting $13.65. 40,459 shares of the stock were exchanged, compared to its average volume of 142,487. The company's 50-day moving average price is $14.00 and its two-hundred day moving average price is $12.81. Royce Otc Micro has a 52-week low of $9.25 and a 52-week high of $14.78.

Royce Otc Micro Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were given a $0.21 dividend. This is an increase from Royce Otc Micro's previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend was Thursday, June 11th.

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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