Royce Otc Micro (NYSE:RMT) Sets 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 $14.33 and last traded at $14.2960, with a volume of 6928 shares. The stock had previously closed at $13.99.

Royce Otc Micro Stock Down 2.4%

The company’s fifty day moving average price is $13.57 and its 200 day moving average price is $12.17.

Royce Otc Micro Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Thursday, June 11th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 6.0%. The ex-dividend date of this dividend is Thursday, June 11th. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.19.

Insider Buying and Selling

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

Institutional Trading of Royce Otc Micro

Institutional investors and hedge funds have recently modified their holdings of the business. Sapient Capital LLC boosted its position in Royce Otc Micro by 1.7% in the first quarter. Sapient Capital LLC now owns 48,559 shares of the financial services provider’s stock worth $549,000 after purchasing an additional 819 shares during the last quarter. Bank of America Corp DE increased its position in shares of Royce Otc Micro by 1.9% during the 1st quarter. Bank of America Corp DE now owns 573,183 shares of the financial services provider’s stock valued at $6,483,000 after purchasing an additional 10,748 shares during the last quarter. Rivernorth Capital Management LLC raised its stake in shares of Royce Otc Micro by 0.6% during the 1st quarter. Rivernorth Capital Management LLC now owns 898,550 shares of the financial services provider’s stock worth $10,163,000 after purchasing an additional 5,424 shares during the period. Saba Capital Management L.P. raised its stake in shares of 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 worth $33,539,000 after purchasing an additional 350,491 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Royce Otc Micro during the 1st quarter worth $3,393,000. 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.