Saba Capital Management L.P. Purchases 350,491 Shares of Royce Otc Micro $RMT

Saba Capital Management L.P. boosted its position in Royce Otc Micro (NYSE:RMT) by 13.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,965,400 shares of the financial services provider’s stock after purchasing an additional 350,491 shares during the period. Royce Otc Micro comprises 0.9% of Saba Capital Management L.P.’s portfolio, making the stock its 15th biggest holding. Saba Capital Management L.P. owned about 0.06% of Royce Otc Micro worth $33,539,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Royce Otc Micro in the 4th quarter worth approximately $31,000. Advisory Services Network LLC purchased a new position in shares of Royce Otc Micro in the third quarter worth approximately $36,000. Kestra Advisory Services LLC bought a new stake in Royce Otc Micro during the fourth quarter valued at approximately $40,000. Heritage Financial Services LLC bought a new stake in Royce Otc Micro during the fourth quarter valued at approximately $105,000. Finally, Closed End Fund Advisors Inc. bought a new stake in Royce Otc Micro during the fourth quarter valued at approximately $144,000. 34.98% of the stock is currently owned by institutional investors.

Royce Otc Micro Stock Down 0.3%

Shares of RMT stock opened at $13.72 on Tuesday. Royce Otc Micro has a 12 month low of $9.13 and a 12 month high of $14.78. The company has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $12.76.

Royce Otc Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 6.1%. The ex-dividend date of this dividend was Thursday, June 11th. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.19.

Insider Activity

In related news, insider John E. Denneen acquired 4,000 shares of Royce Otc Micro stock in a transaction dated Friday, June 5th. The stock was purchased at an average cost of $13.70 per share, for a total transaction of $54,800.00. Following the purchase, the insider directly owned 12,232 shares of the company’s stock, valued at approximately $167,578.40. This trade represents a 48.59% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

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.