Royce Otc Micro (NYSE:RMT) Share Price Passes Above 50 Day Moving Average – Here’s Why

Royce Otc Micro (NYSE:RMT)’s share price crossed above its fifty day moving average during trading on Friday . The stock has a fifty day moving average of $13.97 and traded as high as $13.99. Royce Otc Micro shares last traded at $13.82, with a volume of 129,561 shares.

Royce Otc Micro Stock Down 0.8%

The stock’s fifty day moving average price is $13.97 and its 200-day moving average price is $12.73.

Royce Otc Micro Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Shareholders of record on Thursday, June 11th were paid a $0.21 dividend. This is a positive change from Royce Otc Micro’s previous quarterly dividend of $0.19. This represents a $0.84 annualized dividend and a yield of 6.1%. The ex-dividend date was Thursday, June 11th.

Insider Activity

In other Royce Otc Micro news, insider John E. Denneen acquired 4,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was bought 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 approximately $167,578.40. This represents a 48.59% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royce Otc Micro

A number of large investors have recently added to or reduced their stakes in RMT. Sapient Capital LLC grew its stake in Royce Otc Micro by 1.5% in the 2nd quarter. Sapient Capital LLC now owns 49,274 shares of the financial services provider’s stock valued at $721,000 after buying an additional 715 shares during the last quarter. Bank of America Corp DE raised its position in shares of Royce Otc Micro by 1.9% in the first quarter. Bank of America Corp DE now owns 573,183 shares of the financial services provider’s stock valued at $6,483,000 after buying an additional 10,748 shares in the last quarter. Rivernorth Capital Management LLC grew its holdings in shares of Royce Otc Micro by 0.6% during the 1st quarter. Rivernorth Capital Management LLC now owns 898,550 shares of the financial services provider’s stock worth $10,163,000 after purchasing an additional 5,424 shares in the last quarter. Saba Capital Management L.P. increased its holdings in Royce Otc Micro by 13.4% in the 1st quarter. Saba Capital Management L.P. now owns 2,965,400 shares of the financial services provider’s stock valued at $33,539,000 after buying an additional 350,491 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Royce Otc Micro during the first quarter valued at approximately $3,393,000. 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.