John Denneen Buys 4,000 Shares of Royce Otc Micro (NYSE:RMT) Stock

Royce Otc Micro (NYSE:RMT) insider John Denneen acquired 4,000 shares of Royce Otc Micro stock in a transaction on Friday, June 5th. The stock was purchased at an average cost of $13.70 per share, with a total value of $54,800.00. Following the completion of the transaction, the insider directly owned 12,232 shares in the company, valued at $167,578.40. This represents a 48.59% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Royce Otc Micro Price Performance

Royce Otc Micro stock opened at $13.72 on Wednesday. Royce Otc Micro has a twelve month low of $8.66 and a twelve month high of $14.30. The firm has a 50 day moving average price of $13.11 and a 200-day moving average price of $11.90.

Royce Otc Micro Increases Dividend

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of RMT. Saba Capital Management L.P. grew its position in shares of Royce Otc Micro by 85.7% during the 4th 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 period. Lazard Asset Management LLC bought a new position in shares of Royce Otc Micro during the 1st quarter valued at approximately $3,393,000. LPL Financial LLC grew 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 valued at $10,662,000 after acquiring an additional 212,322 shares during the period. Waterfront Wealth Inc. bought a new position in shares of Royce Otc Micro during the 1st quarter valued at approximately $2,361,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Royce Otc Micro during the 4th quarter valued at approximately $2,036,000. 34.98% of the stock is owned by 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.