Royce Otc Micro (NYSE:RMT) Share Price Crosses Below 200 Day Moving Average – Should You Sell?

Royce Otc Micro (NYSE:RMT) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $9.09 and traded as low as $8.71. Royce Otc Micro shares last traded at $8.74, with a volume of 182,225 shares changing hands.

Royce Otc Micro Stock Down 0.2%

The business’s 50 day moving average price is $8.54 and its two-hundred day moving average price is $9.09.

Royce Otc Micro Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 25th. Stockholders of record on Thursday, June 12th will be paid a $0.18 dividend. The ex-dividend date is Thursday, June 12th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 8.24%.

Insider Activity

In related news, insider Charles M. Royce sold 43,229 shares of the firm’s stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $8.31, for a total value of $359,232.99. Following the completion of the transaction, the insider now owns 798,970 shares in the company, valued at $6,639,440.70. This trade represents a 5.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Modern Wealth Management LLC raised its holdings in Royce Otc Micro by 11.0% in the 1st quarter. Modern Wealth Management LLC now owns 1,074,754 shares of the financial services provider’s stock valued at $9,060,000 after buying an additional 106,092 shares during the last quarter. NewEdge Advisors LLC raised its holdings in Royce Otc Micro by 9.6% during the 1st quarter. NewEdge Advisors LLC now owns 30,469 shares of the financial services provider’s stock worth $257,000 after purchasing an additional 2,675 shares during the last quarter. Royal Bank of Canada raised its holdings in Royce Otc Micro by 5.2% during the 1st quarter. Royal Bank of Canada now owns 207,934 shares of the financial services provider’s stock worth $1,753,000 after purchasing an additional 10,290 shares during the last quarter. Eisler Capital Management Ltd. bought a new position in Royce Otc Micro during the 1st quarter worth approximately $84,000. Finally, Elequin Capital LP bought a new position in Royce Otc Micro during the 1st quarter worth approximately $51,000. Institutional investors own 34.98% of the company’s stock.

Royce Otc Micro 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.