Modern Wealth Management LLC Acquires New Holdings in Royce Micro-Cap Trust, Inc. (NYSE:RMT)

Modern Wealth Management LLC acquired a new position in Royce Micro-Cap Trust, Inc. (NYSE:RMT) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,008,152 shares of the financial services provider’s stock, valued at approximately $10,142,000. Modern Wealth Management LLC owned 1.99% of Royce Micro-Cap Trust as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. HighTower Advisors LLC bought a new stake in shares of Royce Micro-Cap Trust in the 3rd quarter worth $102,000. XTX Topco Ltd bought a new stake in Royce Micro-Cap Trust in the third quarter worth about $104,000. Stephens Inc. AR acquired a new stake in Royce Micro-Cap Trust in the 4th quarter valued at about $124,000. Revolve Wealth Partners LLC acquired a new stake in Royce Micro-Cap Trust in the 4th quarter valued at about $148,000. Finally, Steward Partners Investment Advisory LLC boosted its position in shares of Royce Micro-Cap Trust by 107.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 20,843 shares of the financial services provider’s stock valued at $203,000 after purchasing an additional 10,812 shares in the last quarter. Institutional investors and hedge funds own 34.98% of the company’s stock.

Insider Buying and Selling at Royce Micro-Cap Trust

In related news, insider Charles M. Royce sold 50,000 shares of Royce Micro-Cap Trust stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $9.97, for a total value of $498,500.00. Following the transaction, the insider now directly owns 1,070,942 shares in the company, valued at $10,677,291.74. The trade was a 4.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last 90 days, insiders have sold 150,000 shares of company stock valued at $1,489,500. Corporate insiders own 0.18% of the company’s stock.

Royce Micro-Cap Trust Trading Up 1.8 %

NYSE RMT opened at $8.71 on Tuesday. Royce Micro-Cap Trust, Inc. has a 12 month low of $8.35 and a 12 month high of $10.43. The company’s 50 day simple moving average is $9.51 and its 200 day simple moving average is $9.67.

Royce Micro-Cap Trust Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Thursday, March 13th will be issued a $0.19 dividend. The ex-dividend date of this dividend is Thursday, March 13th. This represents a $0.76 annualized dividend and a dividend yield of 8.73%.

Royce Micro-Cap Trust Profile

Royce Micro-Cap Trust, Inc is a closed-ended equity mutual fund launched and managed Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund seeks to invest in stocks of companies operating across diversified sectors. It primarily invests in value stocks of companies with market capitalization of less than $500 million.