Royce Otc Micro (NYSE:RMT) Hits New 1-Year High – Here’s What Happened

Royce Otc Micro (NYSE:RMT) shares reached 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 trading hands. The stock had previously closed at $13.82.

Royce Otc Micro Trading Up 0.8%

The stock has a fifty day moving average price of $12.60 and a two-hundred day moving average price of $11.62.

Royce Otc Micro Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend was Thursday, March 12th.

Institutional Investors Weigh In On Royce Otc Micro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE raised its holdings in Royce Otc Micro by 1.9% during the first quarter. Bank of America Corp DE now owns 573,183 shares of the financial services provider’s stock worth $6,483,000 after purchasing an additional 10,748 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 worth $10,163,000 after purchasing an additional 5,424 shares in the last quarter. Saba Capital Management L.P. raised its holdings 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 purchasing an additional 350,491 shares in the last quarter. Lazard Asset Management LLC bought a new stake in Royce Otc Micro during the first quarter worth approximately $3,393,000. Finally, FCA Corp TX raised its holdings in Royce Otc Micro by 1.7% during the first quarter. FCA Corp TX now owns 313,186 shares of the financial services provider’s stock worth $3,542,000 after purchasing an additional 5,335 shares in the last quarter. Institutional investors 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.