Royce Otc Micro (NYSE:RMT) Sets New 1-Year High – Here’s Why

Royce Otc Micro (NYSE:RMT)’s stock price reached a new 52-week high during trading on Monday . The stock traded as high as $14.33 and last traded at $14.2960, with a volume of 6928 shares changing hands. The stock had previously closed at $13.99.

Royce Otc Micro Price Performance

The firm’s 50-day simple moving average is $13.50 and its 200-day simple moving average is $12.12.

Royce Otc Micro Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Thursday, June 11th will be paid a $0.21 dividend. The ex-dividend date is Thursday, June 11th. This is a boost from Royce Otc Micro’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a dividend yield of 5.9%.

Insider Buying and Selling at Royce Otc Micro

In other news, insider John E. Denneen acquired 4,000 shares of the stock in a transaction dated Friday, June 5th. The shares were acquired at an average cost of $13.70 per share, for a total transaction of $54,800.00. Following the completion of the transaction, the insider owned 12,232 shares in the company, valued at approximately $167,578.40. This trade represents a 48.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Royce Otc Micro

Several institutional investors and hedge funds have recently bought and sold shares of the business. Saba Capital Management L.P. grew its holdings in shares of Royce Otc Micro by 85.7% in the 4th quarter. Saba Capital Management L.P. now owns 2,614,909 shares of the financial services provider’s stock worth $27,274,000 after purchasing an additional 1,206,828 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of Royce Otc Micro during the 1st quarter worth about $3,393,000. LPL Financial LLC lifted its holdings in Royce Otc Micro by 26.2% during the 4th quarter. LPL Financial LLC now owns 1,022,240 shares of the financial services provider’s stock valued at $10,662,000 after purchasing an additional 212,322 shares during the last quarter. Waterfront Wealth Inc. acquired a new position in Royce Otc Micro in the first quarter valued at about $2,361,000. Finally, Beacon Pointe Advisors LLC acquired a new position in Royce Otc Micro in the fourth quarter valued at about $2,036,000. Institutional investors own 34.98% of the company’s stock.

Royce Otc Micro Company Profile

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.