Royce Small-Cap Trust (NYSE:RVT) Share Price Breaks Below 50 Day Moving Average – Here’s What Happened

Royce Small-Cap Trust, Inc. (NYSE:RVT)’s share price passed below its 50-day moving average during trading on Tuesday. The stock has a 50-day moving average of $17.18 and traded as low as $17.03. Royce Small-Cap Trust shares last traded at $17.1550, with a volume of 211,474 shares.

Royce Small-Cap Trust Stock Performance

The stock has a 50 day moving average of $17.18 and a 200 day moving average of $17.79.

Royce Small-Cap Trust Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Friday, September 11th were issued a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 7.7%. This is a positive change from Royce Small-Cap Trust’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, September 11th.

Hedge Funds Weigh In On Royce Small-Cap Trust

Several institutional investors have recently modified their holdings of RVT. Bank of America Corp DE boosted its stake in Royce Small-Cap Trust by 1.9% during the 1st quarter. Bank of America Corp DE now owns 5,836,337 shares of the financial services provider’s stock valued at $96,883,000 after purchasing an additional 108,629 shares during the period. Hennion & Walsh Asset Management Inc. grew its position in Royce Small-Cap Trust by 45.1% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 177,676 shares of the financial services provider’s stock worth $3,282,000 after purchasing an additional 55,191 shares during the last quarter. Concorde Asset Management LLC bought a new position in Royce Small-Cap Trust in the 2nd quarter worth about $1,008,000. RB Capital Management LLC acquired a new stake in shares of Royce Small-Cap Trust in the second quarter valued at approximately $3,162,000. Finally, Comprehensive Money Management Services LLC acquired a new stake in shares of Royce Small-Cap Trust in the second quarter valued at approximately $1,292,000. Institutional investors own 25.57% of the company’s stock.

About Royce Small-Cap Trust

Royce Small-Cap Trust, Inc. is a closed-end investment company that seeks long-term growth of capital by investing primarily in small-capitalization companies. Its portfolio focuses on equity securities, with an emphasis on businesses in the United States. The trust has operated since 1986 and is managed by Royce Investment Partners, an investment manager specializing in small-cap companies. Its approach centers on researching and selecting individual businesses for a diversified portfolio.