Short Interest in Royce Small-Cap Trust, Inc. (NYSE:RVT) Decreases By 14.9%

Key Points

• Short interest fell 14.9% to 332,333 shares as of March 31, representing about 0.3% of the float and a days-to-cover ratio of 1.6 days.
• President Christopher D. Clark bought 4,500 shares at an average $16.69 on March 24, raising his holdings to 47,235 shares (a 10.53% increase), while insiders own just 0.08% of the stock.
• The trust recently paid a quarterly dividend of $0.30 per share (annualized $1.20, a 6.6% yield), which the article notes as a dividend adjustment/cut.

Royce Small-Cap Trust, Inc. (NYSE:RVT - Get Free Report) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totaling 332,333 shares, a decline of 14.9% from the March 15th total of 390,677 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 207,791 shares, the days-to-cover ratio is currently 1.6 days.

Insider Activity

In other news, President Christopher D. Clark purchased 4,500 shares of the business's stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average price of $16.69 per share, with a total value of $75,105.00. Following the purchase, the president directly owned 47,235 shares of the company's stock, valued at $788,352.15. This represents a 10.53% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.08% of the stock is owned by company insiders.

Institutional Trading of Royce Small-Cap Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE increased its position in Royce Small-Cap Trust by 0.9% during the 2nd quarter. Bank of America Corp DE now owns 6,293,535 shares of the financial services provider's stock worth $94,718,000 after purchasing an additional 54,485 shares in the last quarter. Morgan Stanley increased its position in Royce Small-Cap Trust by 9.1% during the 4th quarter. Morgan Stanley now owns 6,252,497 shares of the financial services provider's stock worth $100,665,000 after purchasing an additional 519,959 shares in the last quarter. Raymond James Financial Inc. increased its position in Royce Small-Cap Trust by 6.7% during the 2nd quarter. Raymond James Financial Inc. now owns 3,174,507 shares of the financial services provider's stock worth $47,776,000 after purchasing an additional 198,905 shares in the last quarter. LPL Financial LLC increased its position in Royce Small-Cap Trust by 9.4% during the 4th quarter. LPL Financial LLC now owns 2,257,033 shares of the financial services provider's stock worth $36,338,000 after purchasing an additional 194,412 shares in the last quarter. Finally, Royal Bank of Canada increased its position in Royce Small-Cap Trust by 1.7% during the 4th quarter. Royal Bank of Canada now owns 1,611,687 shares of the financial services provider's stock worth $25,949,000 after purchasing an additional 26,655 shares in the last quarter. Hedge funds and other institutional investors own 25.57% of the company's stock.

Royce Small-Cap Trust Trading Up 1.9%

Royce Small-Cap Trust stock traded up $0.34 during midday trading on Friday, reaching $18.08. 213,609 shares of the company were exchanged, compared to its average volume of 341,259. The firm's 50-day simple moving average is $17.50 and its 200-day simple moving average is $16.74. Royce Small-Cap Trust has a 1 year low of $13.00 and a 1 year high of $18.73.

Royce Small-Cap Trust Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Thursday, March 12th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date was Thursday, March 12th.

Royce Small-Cap Trust Company Profile

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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