Royce Small-Cap Trust (NYSE:RVT) Sees Unusually-High Trading Volume - What's Next?

Key Points

• Royce Small-Cap Trust (NYSE:RVT) experienced a surge in trading volume, with over 1.2 million shares exchanged, marking a 338% increase from the previous session.
• The company recently cut its dividend to $0.29 per share, with an annual dividend yield of 7.48%.
• Institutional investors are actively buying shares, with notable increases in holdings from Allspring Global Investments and other hedge funds.

Royce Small-Cap Trust, Inc. (NYSE:RVT - ) shares saw an uptick in trading volume on Monday . 1,236,053 shares changed hands during mid-day trading, an increase of 338% from the previous session's volume of 282,129 shares.The stock last traded at $15.50 and had previously closed at $15.48.

Royce Small-Cap Trust Stock Up 0.2%

The business has a 50 day simple moving average of $15.05 and a 200-day simple moving average of $14.92.

Royce Small-Cap Trust Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Stockholders of record on Thursday, June 12th were issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 7.48%. The ex-dividend date of this dividend was Thursday, June 12th.

Insider Activity

In other news, insider Charles M. Royce sold 21,735 shares of the business's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $14.96, for a total transaction of $325,155.60. Following the completion of the sale, the insider owned 86,938 shares in the company, valued at approximately $1,300,592.48. The trade was a 20.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.06% of the company's stock.

Hedge Funds Weigh In On Royce Small-Cap Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Royce Small-Cap Trust by 16.8% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 184,744 shares of the financial services provider's stock valued at $2,780,000 after purchasing an additional 26,570 shares in the last quarter. CWM LLC acquired a new position in shares of Royce Small-Cap Trust in the 2nd quarter valued at approximately $25,000. Comprehensive Money Management Services LLC raised its position in shares of Royce Small-Cap Trust by 11.3% in the 2nd quarter. Comprehensive Money Management Services LLC now owns 52,100 shares of the financial services provider's stock valued at $784,000 after purchasing an additional 5,270 shares in the last quarter. Abel Hall LLC raised its position in shares of Royce Small-Cap Trust by 159.1% in the 2nd quarter. Abel Hall LLC now owns 57,000 shares of the financial services provider's stock valued at $858,000 after purchasing an additional 35,000 shares in the last quarter. Finally, Accel Wealth Management raised its position in shares of Royce Small-Cap Trust by 3.4% in the 2nd quarter. Accel Wealth Management now owns 105,628 shares of the financial services provider's stock valued at $1,590,000 after purchasing an additional 3,424 shares in the last quarter. 25.57% of the stock is owned by institutional investors and hedge funds.

About Royce Small-Cap Trust

Royce Value Trust Inc is a close ended equity mutual fund launched and managed by Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund spreads its investments across diversified sectors. It invests in value oriented stocks of small cap and micro cap companies.

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