Royce Otc Micro (NYSE:RMT) Hits New 12-Month High – Here’s Why

Royce Otc Micro (NYSE:RMT)’s share price hit a new 52-week high on Wednesday . The company traded as high as $13.97 and last traded at $13.9050, with a volume of 43086 shares changing hands. The stock had previously closed at $13.82.

Royce Otc Micro Price Performance

The stock has a fifty day moving average of $12.70 and a two-hundred day moving average of $11.67.

Royce Otc Micro Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Thursday, March 12th were issued a $0.19 dividend. The ex-dividend date was Thursday, March 12th. This represents a $0.76 dividend on an annualized basis and a yield of 5.4%.

Institutional Investors Weigh In On Royce Otc Micro

Several institutional investors have recently bought and sold shares of the business. Saba Capital Management L.P. grew its stake 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 worth $33,539,000 after buying an additional 350,491 shares during the period. UBS Group AG grew its stake in Royce Otc Micro by 1.2% during the third 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 grew its stake 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 worth $10,662,000 after buying an additional 212,322 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Royce Otc Micro by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,014,463 shares of the financial services provider’s stock worth $11,474,000 after buying an additional 11,524 shares during the period. Finally, Alexander Randolph Advisory Inc. grew its stake 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 buying an additional 18,353 shares during the period. 34.98% of the stock is currently owned by hedge funds and other institutional investors.

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.