Royce Otc Micro (NYSE:RMT) Short Interest Up 12.5% in April

Key Points

• Short interest up 12.5% in April to 81,629 shares as of April 15, leaving a days-to-cover of 0.6 and representing about 0.2% of shares outstanding.
• Several institutional investors — including Royal Bank of Canada, Guggenheim, Bank of America, NewEdge and Revolve Wealth Partners — increased their stakes, with hedge funds and other institutions owning roughly 34.98% of the stock.
• RMT paid a quarterly dividend of $0.19 on March 30 (annualized $0.76, ~5.7% yield), and shares recently traded around $13.26, near a one-year high of $13.38.

Royce Otc Micro (NYSE:RMT - Get Free Report) saw a significant increase in short interest during the month of April. As of April 15th, there was short interest totaling 81,629 shares, an increase of 12.5% from the March 31st total of 72,577 shares. Based on an average daily trading volume, of 130,682 shares, the days-to-cover ratio is currently 0.6 days. Currently, 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Royce Otc Micro

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Revolve Wealth Partners LLC purchased a new stake in shares of Royce Otc Micro during the fourth quarter worth approximately $148,000. Royal Bank of Canada raised its stake in shares of Royce Otc Micro by 5.2% during the first quarter. Royal Bank of Canada now owns 207,934 shares of the financial services provider's stock worth $1,753,000 after purchasing an additional 10,290 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of Royce Otc Micro by 9.6% during the first quarter. NewEdge Advisors LLC now owns 30,469 shares of the financial services provider's stock worth $257,000 after purchasing an additional 2,675 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Royce Otc Micro by 6.6% during the second quarter. Guggenheim Capital LLC now owns 82,969 shares of the financial services provider's stock worth $767,000 after purchasing an additional 5,122 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in shares of Royce Otc Micro by 0.5% during 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 last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

Royce Otc Micro Stock Up 2.0%

Shares of NYSE:RMT opened at $13.26 on Friday. The company has a 50-day simple moving average of $12.12 and a 200-day simple moving average of $11.27. Royce Otc Micro has a one year low of $8.10 and a one year high of $13.38.

Royce Otc Micro Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Thursday, March 12th were issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Thursday, March 12th.

About Royce Otc Micro

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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