Royce Otc Micro (NYSE:RMT) President Buys $74,620.00 in Stock

Royce Otc Micro (NYSE:RMT) President Christopher Clark purchased 6,500 shares of the company’s stock in a transaction dated Sunday, March 24th. The stock was purchased at an average cost of $11.48 per share, for a total transaction of $74,620.00. Following the transaction, the president owned 68,648 shares of the company’s stock, valued at approximately $788,079.04. This trade represents a 10.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Royce Otc Micro Price Performance

Shares of Royce Otc Micro stock traded up $0.28 on Wednesday, reaching $11.77. The stock had a trading volume of 67,441 shares, compared to its average volume of 153,426. The business’s 50-day moving average price is $11.75 and its two-hundred day moving average price is $10.90. Royce Otc Micro has a fifty-two week low of $7.25 and a fifty-two week high of $12.50.

Royce Otc Micro Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Thursday, March 12th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Thursday, March 12th. This represents a $0.76 dividend on an annualized basis and a yield of 6.5%.

Institutional Trading of Royce Otc Micro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RMT. Beacon Pointe Advisors LLC bought a new stake in shares of Royce Otc Micro in the fourth quarter valued at approximately $2,036,000. EP Wealth Advisors LLC bought a new position in Royce Otc Micro during the fourth quarter worth $464,000. Saba Capital Management L.P. increased its position in Royce Otc Micro by 85.7% during the fourth quarter. Saba Capital Management L.P. now owns 2,614,909 shares of the financial services provider’s stock worth $27,274,000 after acquiring an additional 1,206,828 shares during the period. Rivernorth Capital Management LLC raised its stake in Royce Otc Micro by 6.6% during the 4th quarter. Rivernorth Capital Management LLC now owns 893,126 shares of the financial services provider’s stock valued at $9,315,000 after purchasing an additional 55,345 shares during the last quarter. Finally, Evolve Private Wealth LLC acquired a new position in Royce Otc Micro during the 4th quarter valued at $1,219,000. Institutional investors and hedge funds 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.