Punch & Associates Investment Management Inc. Has $6.17 Million Stake in Royce Otc Micro $RMT

Punch & Associates Investment Management Inc. reduced its holdings in Royce Otc Micro (NYSE:RMT) by 11.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 545,665 shares of the financial services provider’s stock after selling 70,323 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Royce Otc Micro were worth $6,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of RMT. International Assets Investment Management LLC acquired a new stake in Royce Otc Micro during the 4th quarter worth $31,000. Advisory Services Network LLC acquired a new position in shares of Royce Otc Micro in the 3rd quarter valued at $36,000. Kestra Advisory Services LLC acquired a new position in shares of Royce Otc Micro in the 4th quarter valued at $40,000. Heritage Financial Services LLC bought a new position in shares of Royce Otc Micro in the 4th quarter worth $105,000. Finally, Closed End Fund Advisors Inc. bought a new position in shares of Royce Otc Micro in the 4th quarter worth $144,000. 34.98% of the stock is owned by institutional investors.

Royce Otc Micro Stock Down 0.8%

Shares of Royce Otc Micro stock opened at $13.82 on Friday. Royce Otc Micro has a 12 month low of $9.13 and a 12 month high of $14.78. The business has a fifty day simple moving average of $13.97 and a 200 day simple moving average of $12.73.

Royce Otc Micro Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 6.1%. This is an increase from Royce Otc Micro’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, June 11th.

Insider Activity

In related news, insider John E. Denneen bought 4,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $13.70 per share, for a total transaction of $54,800.00. Following the transaction, the insider owned 12,232 shares of the company’s stock, valued at $167,578.40. This represents a 48.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.19% 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.