Royce Otc Micro (NYSE:RMT) Short Interest Up 115.3% in July

Key Points

• Short interest in Royce Otc Micro (NYSE:RMT) surged by 115.3% in July, increasing from 21,500 shares to 46,300 shares, resulting in a short-interest ratio of 0.3 days.
• Institutional ownership of Royce Otc Micro stands at 34.98%, with notable new investments made by multiple firms, including Oppenheimer & Co. Inc. and Revolve Wealth Partners LLC.
• The company recently cut its quarterly dividend to $0.18 per share, representing an annualized dividend yield of 7.7%.

Royce Otc Micro (NYSE:RMT - Get Free Report) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 46,300 shares, anincreaseof115.3% from the June 30th total of 21,500 shares. Based on an average trading volume of 136,300 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 136,300 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On Royce Otc Micro

A number of hedge funds have recently bought and sold shares of RMT. Verus Capital Partners LLC bought a new position in shares of Royce Otc Micro during the second quarter valued at about $107,000. Roberts Glore & Co. Inc. IL increased its stake in Royce Otc Micro by 2.3% in the 2nd quarter. Roberts Glore & Co. Inc. IL now owns 89,045 shares of the financial services provider's stock valued at $824,000 after buying an additional 1,971 shares during the last quarter. Shaker Financial Services LLC lifted its position in shares of Royce Otc Micro by 12.6% during the 2nd quarter. Shaker Financial Services LLC now owns 1,021,723 shares of the financial services provider's stock worth $9,451,000 after buying an additional 114,526 shares in the last quarter. Wolverine Asset Management LLC boosted its stake in shares of 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 buying an additional 108,516 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of 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 buying an additional 87,000 shares during the last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

Royce Otc Micro Price Performance

NYSE RMT traded up $0.07 during trading hours on Friday, hitting $9.48. The company's stock had a trading volume of 22,631 shares, compared to its average volume of 137,629. Royce Otc Micro has a 52 week low of $7.25 and a 52 week high of $10.43. The company's 50-day simple moving average is $9.27 and its two-hundred day simple moving average is $8.98.

Royce Otc Micro Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 12th were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Thursday, June 12th. This represents a $0.72 annualized dividend and a dividend yield of 7.6%.

About Royce Otc Micro

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.