Royce Small-Cap Trust (NYSE:RVT) Sees Large Volume Increase - Here's Why

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 - Get Free Report) shares saw strong trading volume on Monday . 1,236,053 shares traded hands during 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 Trading Down 1.8%

The company's fifty day moving average is $15.08 and its 200 day moving average is $14.93.

Royce Small-Cap Trust Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Shareholders of record on Thursday, June 12th were paid a $0.29 dividend. The ex-dividend date was Thursday, June 12th. This represents a $1.16 dividend on an annualized basis and a yield of 7.8%.

Insider Buying and Selling

In other Royce Small-Cap Trust news, insider Charles M. Royce sold 21,735 shares of the stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $14.96, for a total value of $325,155.60. Following the completion of the sale, the insider owned 86,938 shares in the company, valued at $1,300,592.48. This trade represents a 20.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.06% of the stock is currently owned by corporate insiders.

Institutional Trading of Royce Small-Cap Trust

A number of large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in Royce Small-Cap Trust by 1.5% in the fourth quarter. Bank of America Corp DE now owns 5,848,923 shares of the financial services provider's stock valued at $92,413,000 after acquiring an additional 87,541 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Royce Small-Cap Trust in the fourth quarter valued at $48,539,000. LPL Financial LLC lifted its stake in Royce Small-Cap Trust by 52.3% in the first quarter. LPL Financial LLC now owns 1,919,691 shares of the financial services provider's stock valued at $27,336,000 after acquiring an additional 659,578 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Royce Small-Cap Trust by 23.3% in the fourth quarter. Wells Fargo & Company MN now owns 1,673,671 shares of the financial services provider's stock valued at $26,444,000 after acquiring an additional 315,880 shares during the last quarter. Finally, Royal Bank of Canada lifted its stake in Royce Small-Cap Trust by 3.1% in the first quarter. Royal Bank of Canada now owns 1,601,377 shares of the financial services provider's stock valued at $22,803,000 after acquiring an additional 47,759 shares during the last quarter. Institutional investors and hedge funds own 25.57% of the company's stock.

Royce Small-Cap Trust Company Profile

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.