Royce Micro-Cap Trust, Inc. (NYSE:RMT) Short Interest Update

Royce Micro-Cap Trust, Inc. (NYSE:RMT) saw a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 52,200 shares, a growth of 71.1% from the February 13th total of 30,500 shares. Based on an average daily trading volume, of 121,300 shares, the days-to-cover ratio is presently 0.4 days. Currently, 0.1% of the company’s shares are sold short.

Insider Buying and Selling at Royce Micro-Cap Trust

In other news, insider Charles M. Royce sold 50,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $9.97, for a total transaction of $498,500.00. Following the sale, the insider now owns 1,070,942 shares of the company’s stock, valued at approximately $10,677,291.74. This represents a 4.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 150,000 shares of company stock valued at $1,489,500 over the last 90 days. 0.18% of the stock is owned by insiders.

Institutional Investors Weigh In On Royce Micro-Cap Trust

Several hedge funds have recently modified their holdings of the stock. Modern Wealth Management LLC purchased a new stake in Royce Micro-Cap Trust during the 4th quarter worth about $10,142,000. Raymond James Financial Inc. acquired a new position in Royce Micro-Cap Trust during the 4th quarter worth approximately $3,469,000. LPL Financial LLC lifted its position in Royce Micro-Cap Trust by 86.7% during the 4th quarter. LPL Financial LLC now owns 592,578 shares of the financial services provider’s stock worth $5,778,000 after acquiring an additional 275,117 shares in the last quarter. Wolverine Asset Management LLC raised its position in shares of Royce Micro-Cap Trust by 88.5% in the 4th quarter. Wolverine Asset Management LLC now owns 353,905 shares of the financial services provider’s stock valued at $3,451,000 after purchasing an additional 166,180 shares in the last quarter. Finally, Shaker Financial Services LLC raised its position in shares of Royce Micro-Cap Trust by 18.7% in the 4th quarter. Shaker Financial Services LLC now owns 734,786 shares of the financial services provider’s stock valued at $7,164,000 after purchasing an additional 115,516 shares in the last quarter. 34.98% of the stock is owned by institutional investors and hedge funds.

Royce Micro-Cap Trust Stock Performance

Royce Micro-Cap Trust stock traded up $0.09 during mid-day trading on Friday, hitting $8.49. The company had a trading volume of 218,228 shares, compared to its average volume of 103,396. Royce Micro-Cap Trust has a 1 year low of $8.35 and a 1 year high of $10.43. The business has a fifty day moving average of $9.65 and a 200 day moving average of $9.71.

Royce Micro-Cap Trust Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 13th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.96%.

About Royce Micro-Cap Trust

Royce Micro-Cap Trust, Inc is a closed-ended equity mutual fund launched and managed Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies with market capitalization of less than $500 million.