Royce Otc Micro (NYSE:RMT) Hits New 52-Week High – Should You Buy?

Shares of Royce Otc Micro (NYSE:RMT) reached a new 52-week high on Tuesday . The company traded as high as $10.96 and last traded at $10.96, with a volume of 136354 shares. The stock had previously closed at $10.80.

Royce Otc Micro Trading Up 1.2%

The stock’s 50-day simple moving average is $10.40 and its 200 day simple moving average is $10.12.

Royce Otc Micro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Thursday, December 11th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, December 11th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.6%. This is a boost from Royce Otc Micro’s previous quarterly dividend of $0.18.

Insider Buying and Selling

In related news, insider Charles M. Royce sold 200,000 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $10.27, for a total value of $2,054,000.00. Following the transaction, the insider owned 596,926 shares in the company, valued at approximately $6,130,430.02. This represents a 25.10% decrease in their position. The sale 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 Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its position in shares of Royce Otc Micro by 15.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 963,753 shares of the financial services provider’s stock valued at $10,013,000 after buying an additional 130,855 shares in the last quarter. Shaker Financial Services LLC increased its stake in Royce Otc Micro by 12.6% during the 2nd quarter. Shaker Financial Services LLC now owns 1,021,723 shares of the financial services provider’s stock worth $9,451,000 after acquiring an additional 114,526 shares during the period. Wolverine Asset Management LLC raised its holdings in Royce Otc Micro by 28.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 492,646 shares of the financial services provider’s stock valued at $4,557,000 after acquiring an additional 108,516 shares in the last quarter. Modern Wealth Management LLC lifted its position in shares of Royce Otc Micro by 11.0% during the 1st quarter. Modern Wealth Management LLC now owns 1,074,754 shares of the financial services provider’s stock valued at $9,060,000 after acquiring an additional 106,092 shares during the period. Finally, TrueMark Investments LLC bought a new stake in shares of Royce Otc Micro during the 3rd quarter valued at $1,024,000. Institutional investors and hedge funds own 34.98% of the company’s stock.

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.