Key Points
- Insider purchase: President Christopher Clark bought 1,000 Royce Micro-Cap Trust shares at $13.40 each, increasing his position by 1.32% to 76,624 shares.
- Dividend increased: The trust raised its quarterly dividend from $0.21 to $0.23 per share, equivalent to $0.92 annually and a 6.9% yield.
- Institutional ownership: Several investment firms recently acquired or expanded positions, with institutional investors collectively owning 34.98% of the company.
Royce Otc Micro (NYSE:RMT - Get Free Report) President Christopher Clark acquired 1,000 shares of the firm's stock in a transaction on Wednesday, September 30th. The stock was purchased at an average price of $13.40 per share, for a total transaction of $13,400.00. Following the transaction, the president directly owned 76,624 shares of the company's stock, valued at approximately $1,026,761.60. This trade represents a 1.32% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Royce Otc Micro Stock Down 0.2%
Shares of NYSE:RMT opened at $13.41 on Friday. The company has a 50-day moving average price of $13.84 and a 200-day moving average price of $13.47. Royce Otc Micro has a 12 month low of $9.52 and a 12 month high of $14.78.
Royce Otc Micro Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Friday, September 11th were issued a dividend of $0.23 per share. The ex-dividend date was Friday, September 11th. This represents a $0.92 dividend on an annualized basis and a yield of 6.9%. This is a boost from Royce Otc Micro's previous quarterly dividend of $0.21.
Institutional Investors Weigh In On Royce Otc Micro
Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE bought a new stake in shares of Royce Otc Micro during the 2nd quarter valued at about $8,821,000. Punch & Associates Investment Management Inc. bought a new position in Royce Otc Micro in the second quarter worth about $7,652,000. Saba Capital Management L.P. lifted its holdings in Royce Otc Micro by 13.4% in the first quarter. Saba Capital Management L.P. now owns 2,965,400 shares of the financial services provider's stock worth $33,539,000 after buying an additional 350,491 shares during the period. Lazard Asset Management LLC purchased a new stake in Royce Otc Micro in the first quarter worth about $3,393,000. Finally, Waterfront Wealth Inc. bought a new stake in Royce Otc Micro during the 1st quarter valued at approximately $2,361,000. Hedge funds and other institutional investors own 34.98% of the company's stock.
About Royce Otc Micro
(
Get Free Report)
Royce Micro-Cap Trust, Inc (NYSE:RMT) is a publicly traded closed-end investment company focused on investing in micro-cap stocks. Rather than operating businesses or selling products directly, the fund provides investors with access to a professionally managed portfolio of smaller publicly traded companies.
The trust primarily invests in U.S. micro-cap equities, with portfolio holdings selected through fundamental research and a long-term investment approach. Its strategy generally emphasizes companies that the investment adviser believes have attractive business prospects, strong financial characteristics, or the potential for improved performance over time.
Royce Micro-Cap Trust is managed by Royce Investment Partners, an investment firm specializing in small-cap and micro-cap equities.
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