Key Points
- Insider buying: John Denneen bought 4,000 shares of Royce Otc Micro at $13.70 each, a $54,800 purchase that lifted his ownership by 48.59% to 12,232 shares.
- Dividend increase: The company raised its quarterly dividend to $0.21 per share from $0.19, putting the annualized payout at $0.84 and the yield at 6.1%.
- Stock and ownership context: RMT recently traded at $13.78, near its 52-week high of $14.30, and institutional investors hold about 34.98% of the stock.
Royce Otc Micro (NYSE:RMT - Get Free Report) insider John Denneen acquired 4,000 shares of the firm's stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $13.70 per share, with a total value of $54,800.00. Following the completion of the purchase, the insider owned 12,232 shares of the company's stock, valued at $167,578.40. This trade represents a 48.59% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Royce Otc Micro Price Performance
Shares of RMT stock opened at $13.78 on Tuesday. The company's fifty day simple moving average is $13.06 and its 200-day simple moving average is $11.87. Royce Otc Micro has a 52 week low of $8.66 and a 52 week high of $14.30.
Royce Otc Micro Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Thursday, June 11th will be given a $0.21 dividend. This represents a $0.84 annualized dividend and a yield of 6.1%. This is a boost from Royce Otc Micro's previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Thursday, June 11th.
Institutional Investors Weigh In On Royce Otc Micro
Large investors have recently modified their holdings of the stock. Saba Capital Management L.P. raised its holdings in shares of Royce Otc Micro by 85.7% during the 4th quarter. Saba Capital Management L.P. now owns 2,614,909 shares of the financial services provider's stock valued at $27,274,000 after buying an additional 1,206,828 shares during the period. Lazard Asset Management LLC purchased a new position in Royce Otc Micro in the 1st quarter worth approximately $3,393,000. LPL Financial LLC boosted its holdings in Royce Otc Micro by 26.2% in the 4th quarter. LPL Financial LLC now owns 1,022,240 shares of the financial services provider's stock worth $10,662,000 after acquiring an additional 212,322 shares during the period. Waterfront Wealth Inc. acquired a new stake in Royce Otc Micro in the first quarter valued at approximately $2,361,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in shares of Royce Otc Micro during the fourth quarter valued at approximately $2,036,000. Institutional investors and hedge funds own 34.98% of the company's stock.
Royce Otc Micro Company Profile
(
Get Free Report)
Royce Micro-Cap Trust, Inc (NYSE: RMT) is a closed-end management investment company primarily focused on micro-capitalization equity securities. The trust seeks long-term capital appreciation by investing in small U.S. companies that, due to their relatively low market values, often receive less attention from larger institutional investors.
Managed by Royce & Associates, LLC, RMT employs a fundamental, value-oriented investment strategy grounded in in-depth, bottom-up research. Portfolio managers analyze financial statements, market trends and company management to identify undervalued firms with the potential for significant growth.
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