Royce Small-Cap Trust, Inc. (NYSE:RVT) Sees Large Increase in Short Interest
by Danessa Lincoln · The Markets DailyRoyce Small-Cap Trust, Inc. (NYSE:RVT – Get Free Report) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 144,378 shares, a growth of 80.9% from the December 31st total of 79,820 shares. Currently, 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 521,839 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily trading volume, of 521,839 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the company’s shares are sold short.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. CWM LLC acquired a new position in shares of Royce Small-Cap Trust during the 2nd quarter valued at $25,000. Newbridge Financial Services Group Inc. acquired a new position in shares of Royce Small-Cap Trust during the second quarter worth $28,000. Westfuller Advisors LLC purchased a new position in shares of Royce Small-Cap Trust in the third quarter valued at $29,000. Quent Capital LLC purchased a new position in shares of Royce Small-Cap Trust in the third quarter valued at $46,000. Finally, Coastline Trust Co acquired a new stake in Royce Small-Cap Trust during the 3rd quarter valued at $48,000. Hedge funds and other institutional investors own 25.57% of the company’s stock.
Royce Small-Cap Trust Price Performance
RVT stock traded down $0.11 during trading on Friday, reaching $17.34. 300,065 shares of the stock traded hands, compared to its average volume of 528,017. The business’s 50 day moving average price is $16.58 and its 200-day moving average price is $16.10. Royce Small-Cap Trust has a 52-week low of $12.12 and a 52-week high of $17.70.
Royce Small-Cap Trust Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, December 24th. Stockholders of record on Thursday, December 11th were issued a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a dividend yield of 12.5%. The ex-dividend date was Thursday, December 11th. This is an increase from Royce Small-Cap Trust’s previous quarterly dividend of $0.29.
About Royce Small-Cap Trust
Royce Small-Cap Trust (NYSE:RVT) is a closed-end management investment company that seeks to provide investors with long-term capital appreciation by investing primarily in the common stocks of small-capitalization companies. The trust is structured to trade on the New York Stock Exchange, offering shares that represent an undivided interest in a diversified portfolio of U.S. small-cap equities. As a closed-end vehicle, the fund may employ leverage to enhance returns and reinvest dividends to support growth over time.
The trust’s investment strategy is driven by fundamental, bottom-up research, focusing on companies with market capitalizations typically falling within the small-cap spectrum.