Royce Otc Micro (NYSE:RMT) Sees Large Decline in Short Interest

Royce Otc Micro (NYSE:RMT) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 22,830 shares, a decrease of 34.8% from the June 30th total of 35,022 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 139,884 shares, the days-to-cover ratio is currently 0.2 days.

Royce Otc Micro Price Performance

NYSE RMT opened at $13.63 on Friday. Royce Otc Micro has a 52-week low of $9.25 and a 52-week high of $14.78. The firm has a 50-day moving average price of $14.00 and a 200 day moving average price of $12.82.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 6.2%. The ex-dividend date was Thursday, June 11th. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.19.

Insider Buying and Selling

In other news, insider John E. Denneen bought 4,000 shares of Royce Otc Micro stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $13.70 per share, for a total transaction of $54,800.00. Following the purchase, the insider owned 12,232 shares of the company’s stock, valued at approximately $167,578.40. The trade was a 48.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Royce Otc Micro

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC purchased a new stake in shares of Royce Otc Micro in the fourth quarter valued at approximately $31,000. Advisory Services Network LLC purchased a new position in Royce Otc Micro in the third quarter worth $36,000. Kestra Advisory Services LLC purchased a new position in Royce Otc Micro in the fourth quarter worth $40,000. Heritage Financial Services LLC purchased a new position in Royce Otc Micro in the fourth quarter worth $105,000. Finally, Closed End Fund Advisors Inc. acquired a new stake in Royce Otc Micro in the fourth quarter valued at $144,000. 34.98% of the stock is 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.