Royce Small-Cap Trust (NYSE:RVT) Hits New 1-Year High – What’s Next?

Royce Small-Cap Trust, Inc. (NYSE:RVT) hit a new 52-week high on Wednesday . The stock traded as high as $16.87 and last traded at $16.83, with a volume of 537687 shares changing hands. The stock had previously closed at $16.47.

Royce Small-Cap Trust Trading Up 2.2%

The firm has a fifty day moving average of $15.98 and a 200-day moving average of $15.65.

Royce Small-Cap Trust Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 24th. Stockholders of record on Thursday, December 11th will be issued a $0.54 dividend. This represents a $2.16 annualized dividend and a dividend yield of 12.8%. The ex-dividend date of this dividend is Thursday, December 11th. This is a boost from Royce Small-Cap Trust’s previous quarterly dividend of $0.29.

Hedge Funds Weigh In On Royce Small-Cap Trust

A number of institutional investors have recently added to or reduced their stakes in RVT. Bank of America Corp DE raised its position in Royce Small-Cap Trust by 0.9% during the second quarter. Bank of America Corp DE now owns 6,293,535 shares of the financial services provider’s stock worth $94,718,000 after acquiring an additional 54,485 shares in the last quarter. Raymond James Financial Inc. increased its stake in shares of Royce Small-Cap Trust by 6.7% during the second quarter. Raymond James Financial Inc. now owns 3,174,507 shares of the financial services provider’s stock worth $47,776,000 after purchasing an additional 198,905 shares during the period. Royal Bank of Canada lifted its holdings in shares of Royce Small-Cap Trust by 3.1% during the first quarter. Royal Bank of Canada now owns 1,601,377 shares of the financial services provider’s stock worth $22,803,000 after buying an additional 47,759 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Royce Small-Cap Trust by 38.0% in the 2nd quarter. Janney Montgomery Scott LLC now owns 693,008 shares of the financial services provider’s stock worth $10,430,000 after purchasing an additional 190,986 shares in the last quarter. Finally, Cornerstone Advisors LLC grew its position in shares of Royce Small-Cap Trust by 476.3% during the 3rd quarter. Cornerstone Advisors LLC now owns 685,519 shares of the financial services provider’s stock worth $11,057,000 after purchasing an additional 566,576 shares in the last quarter. 25.57% of the stock is currently owned by institutional investors and hedge funds.

About Royce Small-Cap Trust

Royce Value Trust Inc is a close ended equity mutual fund launched and managed by Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund spreads its investments across diversified sectors. It invests in value oriented stocks of small cap and micro cap companies.