Royce Small-Cap Trust, Inc. (NYSE:RVT) Short Interest Down 26.1% in April

Key Points

• Short interest down 26.1% in April to 245,448 shares (about 0.2% of the float), with a short-interest ratio of roughly 1.3 days based on average trading volume.
• The trust paid a $0.30 quarterly dividend on March 30 (annualized $1.20), implying a roughly 6.6% yield.
• President Christopher D. Clark bought 4,500 shares on March 24, increasing his holdings to 47,235 shares, while institutional investors collectively own about 25.57% of the company (notably large stakes from Morgan Stanley and others).

Royce Small-Cap Trust, Inc. (NYSE:RVT - Get Free Report) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totaling 245,448 shares, a decrease of 26.1% from the March 31st total of 332,333 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 191,495 shares, the short-interest ratio is currently 1.3 days.

Royce Small-Cap Trust Price Performance

RVT stock traded down $0.11 during midday trading on Wednesday, reaching $18.12. The company had a trading volume of 145,619 shares, compared to its average volume of 320,897. Royce Small-Cap Trust has a 1 year low of $13.58 and a 1 year high of $18.73. The firm has a 50-day moving average price of $17.51 and a 200-day moving average price of $16.87.

Royce Small-Cap Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Thursday, March 12th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend was Thursday, March 12th.

Insiders Place Their Bets

In related news, President Christopher D. Clark purchased 4,500 shares of the business's stock in a transaction on Tuesday, March 24th. The stock was acquired at an average price of $16.69 per share, with a total value of $75,105.00. Following the purchase, the president directly owned 47,235 shares in the company, valued at approximately $788,352.15. This represents a 10.53% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.08% of the company's stock.

Hedge Funds Weigh In On Royce Small-Cap Trust

A number of hedge funds and other institutional investors have recently bought and sold shares of RVT. Cornerstone Advisors LLC grew its stake in Royce Small-Cap Trust by 476.3% in the 3rd quarter. Cornerstone Advisors LLC now owns 685,519 shares of the financial services provider's stock worth $11,057,000 after buying an additional 566,576 shares in the last quarter. Morgan Stanley grew its stake in Royce Small-Cap Trust by 9.1% in the 4th quarter. Morgan Stanley now owns 6,252,497 shares of the financial services provider's stock worth $100,665,000 after buying an additional 519,959 shares in the last quarter. Paller Financial Services Inc purchased a new position in Royce Small-Cap Trust in the 4th quarter worth approximately $5,106,000. Raymond James Financial Inc. grew its stake in Royce Small-Cap Trust by 6.7% in the 2nd quarter. Raymond James Financial Inc. now owns 3,174,507 shares of the financial services provider's stock worth $47,776,000 after buying an additional 198,905 shares in the last quarter. Finally, Waterfront Wealth Inc. grew its stake in Royce Small-Cap Trust by 41.1% in the 3rd quarter. Waterfront Wealth Inc. now owns 679,108 shares of the financial services provider's stock worth $10,786,000 after buying an additional 197,680 shares in the last quarter. Hedge funds and other institutional investors own 25.57% of the company's stock.

Royce Small-Cap Trust Company Profile

Royce Small-Cap Trust NYSE: RVT is a closed-end management investment company that seeks to provide investors with long-term capital appreciation by investing primarily in the common stocks of small-capitalization companies. The trust is structured to trade on the New York Stock Exchange, offering shares that represent an undivided interest in a diversified portfolio of U.S. small-cap equities. As a closed-end vehicle, the fund may employ leverage to enhance returns and reinvest dividends to support growth over time.

The trust’s investment strategy is driven by fundamental, bottom-up research, focusing on companies with market capitalizations typically falling within the small-cap spectrum.

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