Royce Otc Micro (NYSE:RMT) Reaches New 1-Year High – What’s Next?

Royce Otc Micro (NYSE:RMT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.78 and last traded at $14.37, with a volume of 134767 shares changing hands. The stock had previously closed at $14.38.

Royce Otc Micro Price Performance

The stock has a 50 day moving average of $13.79 and a 200-day moving average of $12.38.

Royce Otc Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were issued a $0.21 dividend. This is a boost from Royce Otc Micro’s previous quarterly dividend of $0.19. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Thursday, June 11th.

Insider Activity

In other news, insider John E. Denneen bought 4,000 shares of the firm’s stock in a transaction that occurred on Friday, June 5th. The stock was purchased at an average price of $13.70 per share, with a total value of $54,800.00. Following the completion of the acquisition, the insider directly owned 12,232 shares of the company’s stock, valued at $167,578.40. This trade represents a 48.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royce Otc Micro

A number of institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. lifted its stake in Royce Otc Micro by 13.4% during the 1st quarter. Saba Capital Management L.P. now owns 2,965,400 shares of the financial services provider’s stock valued at $33,539,000 after acquiring an additional 350,491 shares during the period. UBS Group AG boosted its holdings in shares of Royce Otc Micro by 1.2% in the 3rd quarter. UBS Group AG now owns 1,043,876 shares of the financial services provider’s stock valued at $10,846,000 after acquiring an additional 12,378 shares during the last quarter. LPL Financial LLC increased its stake in shares of Royce Otc Micro by 26.2% in the fourth 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. Allspring Global Investments Holdings LLC increased its stake in shares of Royce Otc Micro by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,014,463 shares of the financial services provider’s stock worth $11,474,000 after acquiring an additional 11,524 shares during the period. Finally, Alexander Randolph Advisory Inc. raised its holdings in shares of Royce Otc Micro by 1.9% during the fourth quarter. Alexander Randolph Advisory Inc. now owns 968,549 shares of the financial services provider’s stock worth $10,102,000 after purchasing an additional 18,353 shares during the last quarter. 34.98% of the stock is owned by hedge funds and other institutional investors.

About Royce Otc Micro

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.