Punch & Associates Investment Management Inc. Purchases New Stake in Royce Otc Micro $RMT

Punch & Associates Investment Management Inc. bought a new stake in Royce Otc Micro (NYSE:RMT) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 522,665 shares of the financial services provider’s stock, valued at approximately $7,652,000.

Several other institutional investors have also made changes to their positions in RMT. Saba Capital Management L.P. grew its position in Royce Otc Micro by 13.4% during the first 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 purchasing an additional 350,491 shares in the last quarter. UBS Group AG boosted its holdings in shares of Royce Otc Micro by 1.2% during the 3rd quarter. UBS Group AG now owns 1,043,876 shares of the financial services provider’s stock worth $10,846,000 after buying an additional 12,378 shares during the period. LPL Financial LLC boosted its holdings in Royce Otc Micro by 26.2% during the fourth quarter. LPL Financial LLC now owns 1,022,240 shares of the financial services provider’s stock valued at $10,662,000 after acquiring an additional 212,322 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Royce Otc Micro by 1.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,014,463 shares of the financial services provider’s stock valued at $11,474,000 after buying an additional 11,524 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. increased its position in 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 acquiring an additional 18,353 shares during the period. 34.98% of the stock is currently owned by institutional investors and hedge funds.

Royce Otc Micro Stock Down 0.1%

Shares of RMT opened at $14.18 on Thursday. The company has a 50-day simple moving average of $14.12 and a 200-day simple moving average of $13.17. Royce Otc Micro has a 52 week low of $9.52 and a 52 week high of $14.78.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend was Thursday, June 11th. This is an increase from Royce Otc Micro’s previous quarterly dividend of $0.19.

Insider Activity at Royce Otc Micro

In related news, insider John E. Denneen bought 4,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was bought at an average cost of $13.70 per share, with a total value of $54,800.00. Following the completion of the purchase, the insider owned 12,232 shares in the company, valued at approximately $167,578.40. The trade was a 48.59% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Royce Otc Micro 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.