Royce Otc Micro (NYSE:RMT) Shares Pass Above Fifty Day Moving Average – Here’s Why

Royce Otc Micro (NYSE:RMT)’s stock price crossed above its 50 day moving average during trading on Friday . The stock has a 50 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 changing hands.

Royce Otc Micro Stock Down 0.8%

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

Royce Otc Micro Increases Dividend

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

Insider Transactions at Royce Otc Micro

In related news, insider John E. Denneen purchased 4,000 shares of Royce Otc Micro stock in a transaction dated Friday, June 5th. The stock was purchased 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 directly owned 12,232 shares of the company’s stock, valued at $167,578.40. The trade was a 48.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Royce Otc Micro

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

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.