Royce Otc Micro (NYSE:RMT) Sees Significant Drop in Short Interest

Royce Otc Micro (NYSE:RMT) was the recipient of a significant drop in short interest during the month of August. As of August 14th, there was short interest totaling 19,130 shares, a drop of 57.4% from the July 30th total of 44,929 shares. Based on an average daily volume of 113,171 shares, the short-interest ratio is presently 0.2 days. Currently, 0.0% of the company’s shares are short sold.

Royce Otc Micro Stock Down 0.9%

Shares of NYSE RMT traded down $0.12 during midday trading on Friday, reaching $13.98. 81,691 shares of the stock were exchanged, compared to its average volume of 97,928. Royce Otc Micro has a twelve month low of $9.52 and a twelve month high of $14.78. The company has a 50 day simple moving average of $14.12 and a 200 day simple moving average of $13.20.

Royce Otc Micro Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were paid a $0.21 dividend. This is a boost from Royce Otc Micro’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Thursday, June 11th. This represents a $0.84 annualized dividend and a dividend yield of 6.0%.

Insider Transactions at Royce Otc Micro

In other news, insider John E. Denneen bought 4,000 shares of Royce Otc Micro stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $13.70 per share, with a total value of $54,800.00. Following the completion of the purchase, the insider directly owned 12,232 shares of the company’s stock, valued at approximately $167,578.40. This trade represents a 48.59% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Institutional Trading of Royce Otc Micro

Several institutional investors and hedge funds have recently bought and sold shares of RMT. Saba Capital Management L.P. increased its position in shares of Royce Otc Micro by 85.7% during the fourth quarter. Saba Capital Management L.P. now owns 2,614,909 shares of the financial services provider’s stock valued at $27,274,000 after acquiring an additional 1,206,828 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Royce Otc Micro in the 2nd quarter worth approximately $8,821,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Royce Otc Micro in the 2nd quarter worth approximately $7,652,000. Lazard Asset Management LLC purchased a new position in shares of Royce Otc Micro during the 1st quarter worth approximately $3,393,000. Finally, LPL Financial LLC boosted its position in shares of Royce Otc Micro by 26.2% during the 4th quarter. LPL Financial LLC now owns 1,022,240 shares of the financial services provider’s stock worth $10,662,000 after purchasing an additional 212,322 shares during the period. 34.98% of the stock is currently owned by hedge funds and other institutional investors.

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.