Royce Otc Micro (NYSE:RMT) Short Interest Up 96.8% in July

Royce Otc Micro (NYSE:RMT) was the recipient of a large increase in short interest in July. As of July 31st, there was short interest totaling 44,929 shares, an increase of 96.8% from the July 15th total of 22,830 shares. Based on an average trading volume of 121,053 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Insider Activity at Royce Otc Micro

In other news, insider John E. Denneen bought 4,000 shares of the stock in a transaction dated Friday, June 5th. The stock was bought at an average price of $13.70 per share, for a total transaction of $54,800.00. Following the completion of the acquisition, the insider directly owned 12,232 shares in the company, valued at approximately $167,578.40. This trade represents a 48.59% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Royce Otc Micro

Institutional investors and hedge funds have recently modified their holdings of the business. Punch & Associates Investment Management Inc. bought a new stake in Royce Otc Micro during the second quarter worth $7,652,000. Bank of America Corp DE bought a new position in Royce Otc Micro in the 2nd quarter valued at $8,821,000. Roberts Glore & Co. Inc. IL bought a new position in Royce Otc Micro in the 2nd quarter valued at $809,000. Commerce Bank bought a new position in Royce Otc Micro in the 2nd quarter valued at $435,000. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Royce Otc Micro during the 2nd quarter valued at $1,647,000. 34.98% of the stock is owned by hedge funds and other institutional investors.

Royce Otc Micro Stock Down 0.1%

Royce Otc Micro stock traded down $0.01 during midday trading on Monday, hitting $14.60. 60,845 shares of the stock were exchanged, compared to its average volume of 140,264. Royce Otc Micro has a 52-week low of $9.52 and a 52-week high of $14.78. The business’s 50-day moving average price is $14.07 and its 200-day moving average price is $13.02.

Royce Otc Micro Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 29th. Stockholders of record on Thursday, June 11th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date was Thursday, June 11th. This is a boost from Royce Otc Micro’s previous quarterly dividend of $0.19.

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.