Royce Small-Cap Trust, Inc. (NYSE:RVT) Short Interest Update

Key Points

• Short interest rose 44.4% in February to 548,009 shares as of Feb. 27, lifting the short-interest ratio to about 2.0 days and representing roughly 0.5% of the company's stock.
• The trust declared a quarterly dividend of $0.30 (annualized $1.20) with an ex-dividend date of March 12 and a yield of about 7.3%, payable March 30.
• Several hedge funds added or increased positions in the fourth quarter — notably Saba Capital now owns 1,437,153 shares (~$23.1M) — and institutional investors collectively own about 25.57% of the stock.

Royce Small-Cap Trust, Inc. (NYSE:RVT - Get Free Report) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 548,009 shares, an increase of 44.4% from the February 12th total of 379,489 shares. Based on an average daily volume of 268,832 shares, the short-interest ratio is presently 2.0 days. Approximately 0.5% of the company's stock are short sold. Approximately 0.5% of the company's stock are short sold. Based on an average daily volume of 268,832 shares, the short-interest ratio is presently 2.0 days.

Royce Small-Cap Trust Stock Down 1.8%

Shares of NYSE:RVT opened at $16.44 on Friday. The stock's 50-day moving average is $17.61 and its 200-day moving average is $16.61. Royce Small-Cap Trust has a 52-week low of $12.12 and a 52-week high of $18.73.

Royce Small-Cap Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Thursday, March 12th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.3%. The ex-dividend date is Thursday, March 12th.

Institutional Investors Weigh In On Royce Small-Cap Trust

Several hedge funds have recently made changes to their positions in the stock. World Investment Advisors bought a new stake in Royce Small-Cap Trust in the 4th quarter valued at $211,000. Alpine Global Management LLC acquired a new position in Royce Small-Cap Trust in the fourth quarter worth about $250,000. Harbour Wealth Management Group Inc. acquired a new stake in Royce Small-Cap Trust during the fourth quarter valued at approximately $312,000. Saba Capital Management L.P. grew its stake in shares of Royce Small-Cap Trust by 2.3% in the 4th quarter. Saba Capital Management L.P. now owns 1,437,153 shares of the financial services provider's stock valued at $23,138,000 after purchasing an additional 32,980 shares during the period. Finally, Rivernorth Capital Management LLC raised its holdings in shares of Royce Small-Cap Trust by 0.3% in the 4th quarter. Rivernorth Capital Management LLC now owns 598,883 shares of the financial services provider's stock worth $9,642,000 after buying an additional 2,038 shares in the last quarter. Institutional investors own 25.57% of the company's stock.

About Royce Small-Cap Trust

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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