Royce Otc Micro (NYSE:RMT) Hits New 52-Week High – Time to Buy?

Royce Otc Micro (NYSE:RMT) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $14.78 and last traded at $14.37, with a volume of 134767 shares. The stock had previously closed at $14.38.

Royce Otc Micro Trading Up 1.0%

The business has a 50-day moving average price of $13.79 and a 200-day moving average price of $12.38.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Thursday, June 11th were paid a dividend of $0.21 per share. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.19. The ex-dividend date was Thursday, June 11th. This represents a $0.84 annualized dividend and a yield of 5.8%.

Insider Transactions at Royce Otc Micro

In other Royce Otc Micro news, insider John E. Denneen bought 4,000 shares of Royce Otc Micro stock in a transaction that occurred 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 transaction, the insider directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royce Otc Micro

Large investors have recently modified their holdings of the business. Saba Capital Management L.P. raised its position in shares of Royce Otc Micro by 85.7% in 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 purchasing an additional 1,206,828 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Royce Otc Micro in the 1st quarter worth approximately $3,393,000. LPL Financial LLC boosted its stake in Royce Otc Micro by 26.2% in 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 in the last quarter. Waterfront Wealth Inc. purchased a new stake in Royce Otc Micro during the 1st quarter worth approximately $2,361,000. Finally, Beacon Pointe Advisors LLC purchased a new stake in Royce Otc Micro during the 4th quarter worth approximately $2,036,000. Hedge funds and other 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.