1,008,152 Shares in Royce Micro-Cap Trust, Inc. (NYSE:RMT) Purchased by Modern Wealth Management LLC

Modern Wealth Management LLC bought a new stake in shares of Royce Micro-Cap Trust, Inc. (NYSE:RMT) during the 4th quarter, HoldingsChannel reports. The firm bought 1,008,152 shares of the financial services provider’s stock, valued at approximately $10,142,000.

A number of other large investors also recently made changes to their positions in the business. LPL Financial LLC boosted its holdings in shares of Royce Micro-Cap Trust by 86.7% during the fourth quarter. LPL Financial LLC now owns 592,578 shares of the financial services provider’s stock worth $5,778,000 after purchasing an additional 275,117 shares during the period. Flagship Harbor Advisors LLC lifted its position in Royce Micro-Cap Trust by 7.9% in the 4th quarter. Flagship Harbor Advisors LLC now owns 547,408 shares of the financial services provider’s stock worth $5,337,000 after buying an additional 40,267 shares in the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of Royce Micro-Cap Trust by 14.4% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 432,511 shares of the financial services provider’s stock valued at $4,217,000 after buying an additional 54,366 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Royce Micro-Cap Trust during the 4th quarter valued at $3,469,000. Finally, Wolverine Asset Management LLC increased its stake in shares of Royce Micro-Cap Trust by 88.5% in the fourth quarter. Wolverine Asset Management LLC now owns 353,905 shares of the financial services provider’s stock worth $3,451,000 after acquiring an additional 166,180 shares during the last quarter. Institutional investors and hedge funds own 34.98% of the company’s stock.

Insider Activity

In related news, insider Charles M. Royce sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $9.94, for a total transaction of $497,000.00. Following the transaction, the insider now owns 1,120,942 shares of the company’s stock, valued at approximately $11,142,163.48. This trade represents a 4.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 150,000 shares of company stock worth $1,489,500 in the last three months. 0.18% of the stock is owned by insiders.

Royce Micro-Cap Trust Trading Up 1.8 %

Shares of NYSE:RMT opened at $8.71 on Tuesday. Royce Micro-Cap Trust, Inc. has a 1 year low of $8.35 and a 1 year high of $10.43. The business has a fifty day simple moving average of $9.51 and a 200 day simple moving average of $9.67.

Royce Micro-Cap Trust Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Thursday, March 13th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 8.73%. The ex-dividend date is Thursday, March 13th.

About Royce Micro-Cap Trust

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.