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) was the target of a significant increase in short interest during the month of 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 daily volume of 136,300 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily volume of 136,300 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Verus Capital Partners LLC purchased a new position in ROYCE OTC MICRO during the second quarter worth about $107,000. Roberts Glore & Co. Inc. IL raised its position in ROYCE OTC MICRO by 2.3% in the second quarter. Roberts Glore & Co. Inc. IL now owns 89,045 shares of the financial services provider's stock worth $824,000 after acquiring an additional 1,971 shares during the period. Shaker Financial Services LLC raised its position in ROYCE OTC MICRO by 12.6% in the second quarter. Shaker Financial Services LLC now owns 1,021,723 shares of the financial services provider's stock worth $9,451,000 after acquiring an additional 114,526 shares during the period. Wolverine Asset Management LLC raised its position in ROYCE OTC MICRO by 28.2% in the second quarter. Wolverine Asset Management LLC now owns 492,646 shares of the financial services provider's stock worth $4,557,000 after acquiring an additional 108,516 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in ROYCE OTC MICRO by 11.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 832,898 shares of the financial services provider's stock worth $7,704,000 after acquiring an additional 87,000 shares during the period. 34.98% of the stock is currently owned by hedge funds and other institutional investors.

ROYCE OTC MICRO Stock Up 0.4%

ROYCE OTC MICRO stock traded up $0.04 during midday trading on Friday, hitting $9.45. 75,623 shares of the stock were exchanged, compared to its average volume of 117,732. ROYCE OTC MICRO has a 52-week low of $7.25 and a 52-week high of $10.43. The business's 50-day moving average price is $9.28 and its 200-day moving average price is $8.97.

ROYCE OTC MICRO Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Thursday, June 12th were issued a dividend of $0.18 per share. The ex-dividend date was Thursday, June 12th. This represents a $0.72 annualized dividend and a 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.