ROYCE OTC MICRO (NYSE:RMT) Share Price Crosses Above 50-Day Moving Average - Time to Sell?

Key Points

• Royce Otc Micro (NYSE:RMT) stock has crossed above its fifty day moving average, currently trading at $10.12 compared to the average of $9.47.
• The company recently declared a dividend of $0.18 per share, resulting in an annualized dividend of $0.72 and a yield of 7.1%.
• Institutional investors have increased their holdings significantly, with hedge funds owning 34.98% of Royce Otc Micro's stock as of the latest quarter.

ROYCE OTC MICRO (NYSE:RMT - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $9.47 and traded as high as $10.13. ROYCE OTC MICRO shares last traded at $10.12, with a volume of 176,397 shares.

ROYCE OTC MICRO Price Performance

The company's 50-day simple moving average is $9.59 and its 200-day simple moving average is $8.95.

ROYCE OTC MICRO Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th were given a $0.18 dividend. The ex-dividend date was Thursday, June 12th. This represents a $0.72 annualized dividend and a yield of 7.1%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Shaker Financial Services LLC boosted its stake in ROYCE OTC MICRO by 23.5% in the 1st quarter. Shaker Financial Services LLC now owns 907,197 shares of the financial services provider's stock worth $7,648,000 after purchasing an additional 172,411 shares during the period. Wolverine Asset Management LLC boosted its stake in ROYCE OTC MICRO by 28.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 492,646 shares of the financial services provider's stock worth $4,557,000 after purchasing an additional 108,516 shares during the period. Modern Wealth Management LLC boosted its stake in ROYCE OTC MICRO by 11.0% in the 1st quarter. Modern Wealth Management LLC now owns 1,074,754 shares of the financial services provider's stock worth $9,060,000 after purchasing an additional 106,092 shares during the period. Allspring Global Investments Holdings LLC boosted 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 purchasing an additional 87,000 shares during the period. Finally, LPL Financial LLC boosted 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 purchasing an additional 78,528 shares during the period. Institutional investors and hedge funds own 34.98% of the company's stock.

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.