Insider Buying: Royce Otc Micro (NYSE:RMT) President Purchases $13,400.00 in Stock

Royce Otc Micro (NYSE:RMT) President Christopher Clark purchased 1,000 shares of Royce Otc Micro stock in a transaction dated Wednesday, September 30th. The shares were purchased at an average price of $13.40 per share, with a total value of $13,400.00. Following the completion of the acquisition, the president owned 76,624 shares in the company, valued at $1,026,761.60. The trade was a 1.32% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Royce Otc Micro Price Performance

Shares of NYSE RMT opened at $13.57 on Friday. The business has a 50 day simple moving average of $13.84 and a 200 day simple moving average of $13.47. 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 Tuesday, September 29th. Shareholders of record on Friday, September 11th were given a $0.23 dividend. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 6.8%. The ex-dividend date of this dividend was Friday, September 11th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Saba Capital Management L.P. boosted its holdings in Royce Otc Micro by 13.4% in 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 purchasing an additional 350,491 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings 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 valued at $11,474,000 after buying an additional 11,524 shares in the last quarter. Rivernorth Capital Management LLC raised its holdings in Royce Otc Micro by 0.6% during the first quarter. Rivernorth Capital Management LLC now owns 898,550 shares of the financial services provider’s stock valued at $10,163,000 after buying an additional 5,424 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of Royce Otc Micro in the second quarter worth about $8,821,000. Finally, Punch & Associates Investment Management Inc. acquired a new stake in shares of Royce Otc Micro in the second quarter worth about $7,652,000. Institutional investors own 34.98% of the company’s stock.

About Royce Otc Micro

Royce Micro-Cap Trust, Inc (NYSE: RMT) is a publicly traded closed-end investment company focused on investing in micro-capitalization companies. The fund seeks long-term capital growth by building a diversified portfolio primarily of common stocks issued by smaller U.S. companies.

RMT is managed by Royce & Associates, LP, an investment adviser specializing in small-cap and micro-cap equity strategies. The portfolio typically emphasizes companies that the adviser believes have attractive business fundamentals, experienced management teams, and the potential to grow over time.