Royce Otc Micro (NYSE:RMT) Hits New 52-Week High – Here’s What Happened

Royce Otc Micro (NYSE:RMT) hit a new 52-week high on Monday . The stock traded as high as $14.42 and last traded at $14.4050, with a volume of 228153 shares. The stock had previously closed at $14.12.

Royce Otc Micro Trading Up 2.0%

The stock has a 50 day moving average of $13.65 and a 200-day moving average of $12.24.

Royce Otc Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Thursday, June 11th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 5.8%. This is an increase from Royce Otc Micro’s previous quarterly dividend of $0.19. The ex-dividend date is Thursday, June 11th.

Insider Activity

In related news, insider John E. Denneen acquired 4,000 shares of the stock in a transaction dated Friday, June 5th. The stock was acquired at an average cost of $13.70 per share, for a total transaction of $54,800.00. Following the completion of the purchase, the insider owned 12,232 shares of the company’s stock, valued at approximately $167,578.40. This represents a 48.59% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Royce Otc Micro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in Royce Otc Micro during the 4th quarter valued at about $31,000. Advisory Services Network LLC purchased a new stake in Royce Otc Micro in the third quarter valued at approximately $36,000. Kestra Advisory Services LLC acquired a new position in Royce Otc Micro in the 4th quarter worth approximately $40,000. Heritage Financial Services LLC purchased a new position in Royce Otc Micro during the 4th quarter worth approximately $105,000. Finally, Closed End Fund Advisors Inc. purchased a new position in Royce Otc Micro during the 4th quarter worth approximately $144,000. Hedge funds and other institutional investors own 34.98% of the company’s stock.

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.