Royce Otc Micro (RMT) To Go Ex-Dividend on September 11th

Royce Otc Micro (NYSE:RMT) announced a quarterly dividend on Tuesday, September 1st. Shareholders of record on Friday, September 11th will be paid a dividend of 0.23 per share by the financial services provider on Tuesday, September 29th. This represents a c) annualized dividend and a yield of 6.6%. The ex-dividend date is Friday, September 11th. This is a 9.5% increase from Royce Otc Micro’s previous quarterly dividend of $0.21.

Royce Otc Micro Stock Up 0.3%

Shares of NYSE RMT opened at $13.97 on Wednesday. Royce Otc Micro has a 1 year low of $9.52 and a 1 year high of $14.78. The firm’s 50-day moving average is $14.07 and its 200-day moving average is $13.30.

Hedge Funds Weigh In On Royce Otc Micro

A number of hedge funds and other institutional investors have recently bought and sold shares of RMT. Saba Capital Management L.P. raised 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 last quarter. Bank of America Corp DE acquired a new position in shares of Royce Otc Micro in the 2nd quarter valued at $8,821,000. Punch & Associates Investment Management Inc. bought a new position in shares of Royce Otc Micro in the 2nd quarter worth $7,652,000. Lazard Asset Management LLC bought a new position in shares of Royce Otc Micro in the 1st quarter worth $3,393,000. Finally, LPL Financial LLC boosted its position in shares of 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 during the last quarter. 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.