Royce Otc Micro (NYSE:RMT) Share Price Breaks Below Two Hundred Day Moving Average – Here’s Why

Shares of Royce Otc Micro (NYSE:RMT) crossed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $13.07 and traded as low as $12.81. Royce Otc Micro shares last traded at $13.05, with a volume of 114,107 shares.

Royce Otc Micro Price Performance

The firm has a fifty day moving average of $13.40 and a 200 day moving average of $13.07.

Royce Otc Micro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 29th. Shareholders of record on Friday, September 11th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, September 11th. This represents a $0.92 annualized dividend and a yield of 7.0%. This is an increase from Royce Otc Micro’s previous quarterly dividend of $0.21.

Institutional Trading of Royce Otc Micro

Large investors have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new stake in Royce Otc Micro during the second quarter valued at $8,821,000. Punch & Associates Investment Management Inc. bought a new position in Royce Otc Micro in the second quarter valued at about $7,652,000. Saba Capital Management L.P. boosted its position 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 purchasing an additional 350,491 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Royce Otc Micro in the first quarter worth about $3,393,000. Finally, Waterfront Wealth Inc. purchased a new position in Royce Otc Micro in the first quarter worth about $2,361,000. 34.98% of the stock is currently owned by institutional investors.

About Royce Otc Micro

Royce Micro-Cap Trust, Inc (NYSE: RMT) is a publicly traded closed-end investment company focused on long-term growth of capital. The fund invests primarily in shares of U.S. micro-cap companies, generally emphasizing businesses that Royce’s investment team believes have the potential for sustainable growth and attractive long-term returns.

The trust provides investors with diversified exposure to smaller publicly traded companies across a range of industries. Its portfolio may include common stocks and other equity-related investments, with security selection based on fundamental research and analysis of factors such as business quality, financial condition, valuation and growth prospects.

RMT is managed by Royce Investment Partners, an investment management firm known for its focus on small-cap and micro-cap equities.