Royce Small-Cap Trust (NYSE:RVT) Shares Cross Below 50-Day Moving Average – Here’s What Happened

Royce Small-Cap Trust, Inc. (NYSE:RVT) shares passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $17.71 and traded as low as $16.63. Royce Small-Cap Trust shares last traded at $16.74, with a volume of 235,347 shares trading hands.

Royce Small-Cap Trust Stock Performance

The business has a 50-day moving average price of $17.66 and a 200 day moving average price of $18.00.

Royce Small-Cap Trust Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Friday, September 11th were issued a $0.33 dividend. This is an increase from Royce Small-Cap Trust’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend was Friday, September 11th. This represents a $1.32 annualized dividend and a yield of 8.0%.

Institutional Investors Weigh In On Royce Small-Cap Trust

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RVT. Bank of America Corp DE boosted its position in Royce Small-Cap Trust by 1.9% during the first quarter. Bank of America Corp DE now owns 5,836,337 shares of the financial services provider’s stock worth $96,883,000 after purchasing an additional 108,629 shares during the period. Hennion & Walsh Asset Management Inc. increased its stake in shares of Royce Small-Cap Trust by 45.1% in the second quarter. Hennion & Walsh Asset Management Inc. now owns 177,676 shares of the financial services provider’s stock worth $3,282,000 after purchasing an additional 55,191 shares in the last quarter. Comprehensive Money Management Services LLC bought a new stake in shares of Royce Small-Cap Trust in the second quarter valued at approximately $1,292,000. Concorde Asset Management LLC bought a new stake in shares of Royce Small-Cap Trust in the second quarter valued at approximately $1,008,000. Finally, RB Capital Management LLC bought a new stake in shares of Royce Small-Cap Trust in the second quarter valued at approximately $3,162,000. 25.57% of the stock is currently owned by institutional investors.

Royce Small-Cap Trust Company Profile

Royce Small-Cap Trust (NYSE: RVT) is a diversified, closed-end investment company focused primarily on investing in small-capitalization companies. The fund seeks long-term capital growth by holding a portfolio of businesses that Royce & Associates, its investment adviser, believes offer attractive value and growth potential.

The trust invests across a range of industries, generally emphasizing established small companies with characteristics such as strong management, sound balance sheets, and the potential to improve their earnings or business performance.