Modern Wealth Management LLC Takes Position in Royce Micro-Cap Trust, Inc. (NYSE:RMT)

Modern Wealth Management LLC acquired a new stake in shares of Royce Micro-Cap Trust, Inc. (NYSE:RMT - Free Report) during the 4th quarter, according to the company in its most recent filing 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RMT. Walleye Capital LLC boosted its holdings in shares of Royce Micro-Cap Trust by 6.9% in the 3rd quarter. Walleye Capital LLC now owns 42,151 shares of the financial services provider's stock worth $405,000 after buying an additional 2,713 shares during the last quarter. Captrust Financial Advisors grew its holdings in Royce Micro-Cap Trust by 5.0% during the third quarter. Captrust Financial Advisors now owns 106,063 shares of the financial services provider's stock valued at $1,019,000 after purchasing an additional 5,071 shares during the period. HighTower Advisors LLC purchased a new stake in Royce Micro-Cap Trust in the third quarter worth $102,000. EP Wealth Advisors LLC raised its stake in shares of Royce Micro-Cap Trust by 5.6% in the third quarter. EP Wealth Advisors LLC now owns 58,294 shares of the financial services provider's stock valued at $560,000 after buying an additional 3,109 shares during the period. Finally, XTX Topco Ltd purchased a new position in shares of Royce Micro-Cap Trust during the 3rd quarter valued at $104,000. Institutional investors own 34.98% of the company's stock.

Royce Micro-Cap Trust Price Performance

Shares of RMT traded down $0.19 during trading hours on Friday, hitting $8.43. The company's stock had a trading volume of 50,993 shares, compared to its average volume of 124,456. The business has a 50 day simple moving average of $9.43 and a two-hundred day simple moving average of $9.65. Royce Micro-Cap Trust, Inc. has a 52-week low of $8.35 and a 52-week high of $10.43.

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Royce Micro-Cap Trust Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Thursday, March 13th were given a dividend of $0.19 per share. The ex-dividend date of this dividend was Thursday, March 13th. This represents a $0.76 annualized dividend and a yield of 9.02%.

Insider Buying and Selling

In other news, insider Charles M. Royce sold 50,000 shares of Royce Micro-Cap Trust stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $9.97, for a total value of $498,500.00. Following the completion of the transaction, the insider now owns 1,070,942 shares of the company's stock, valued at $10,677,291.74. The trade was a 4.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 150,000 shares of company stock valued at $1,489,500 over the last ninety days. 0.18% of the stock is owned by insiders.

Royce Micro-Cap Trust Company 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.