Punch & Associates Investment Management Inc. Sells 70,323 Shares of Royce Otc Micro $RMT

Punch & Associates Investment Management Inc. cut its holdings in Royce Otc Micro (NYSE:RMT) by 11.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 545,665 shares of the financial services provider’s stock after selling 70,323 shares during the quarter. Punch & Associates Investment Management Inc. owned approximately 1.04% of Royce Otc Micro worth $6,171,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Saba Capital Management L.P. lifted its position in 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 worth $27,274,000 after buying an additional 1,206,828 shares in the last quarter. UBS Group AG increased its position in Royce Otc Micro by 1.2% in the 3rd quarter. UBS Group AG now owns 1,043,876 shares of the financial services provider’s stock valued at $10,846,000 after acquiring an additional 12,378 shares in the last quarter. LPL Financial LLC increased its position 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 valued at $10,662,000 after acquiring an additional 212,322 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Royce Otc Micro by 1.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,014,463 shares of the financial services provider’s stock worth $11,474,000 after acquiring an additional 11,524 shares during the last quarter. Finally, Alexander Randolph Advisory Inc. raised its stake in shares of Royce Otc Micro by 1.9% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 968,549 shares of the financial services provider’s stock worth $10,102,000 after acquiring an additional 18,353 shares during the last quarter. 34.98% of the stock is owned by institutional investors.

Royce Otc Micro Trading Down 0.8%

Shares of RMT stock opened at $13.82 on Friday. Royce Otc Micro has a 1 year low of $9.13 and a 1 year high of $14.78. The firm’s 50 day moving average is $13.97 and its 200-day moving average is $12.73.

Royce Otc Micro Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 29th. Investors of record on Thursday, June 11th were given a $0.21 dividend. This is a boost 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 6.1%.

Insider Transactions at Royce Otc Micro

In other news, insider John E. Denneen acquired 4,000 shares of Royce Otc Micro stock in a transaction on Friday, June 5th. The shares were purchased at an average price of $13.70 per share, with a total value of $54,800.00. Following the acquisition, the insider owned 12,232 shares in the company, valued at $167,578.40. This represents a 48.59% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.19% 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.