NEW YORK--(BUSINESS WIRE)--Royce Micro-Cap Trust (NYSE: RMT):
- Only micro-cap closed-end fund
- Average weekly trading volume of approximately 281,000 shares
- Fund’s adviser has more than 35 years of small- and micro-cap investment experience
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Closing Prices – February 28, 2011 |
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NAV |
$ 11.78 |
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MKT |
$ 10.08 |
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Total Return Performance |
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Periods ended February 28, 2011 |
NAV |
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MKT |
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1 Month* |
5.08% |
4.67% |
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Year to Date* |
3.88 |
2.86 |
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One-Year |
30.70 |
34.12 |
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Three-Year Average Annual |
5.25 |
3.36 |
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Five-Year Average Annual |
3.46 |
0.17 |
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10-Year Average Annual |
10.00 |
9.31 |
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| *Not annualized | ||||||||
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Portfolio Diagnostics |
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| Wtd Average Geometric Market Cap: | $333 million | ||
| Wtd. Average P/E Ratio: | 18.3x* | ||
| Wtd. Average P/B Ratio: | 1.9x | ||
| Net Assets Applicable to Common Stock: | $383 million | ||
| Net Leverage: | 0% | ||
*Excludes 21% of portfolio holdings with zero or negative earnings as of 2/28/11.
Net leverage is the percentage, in excess of 100%, of the total value of equity type investments, divided by net assets applicable to common stock.
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Portfolio Composition |
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Top 10 Positions |
% of Net Assets |
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| 1. Kennedy-Wilson Holdings |
1.6% |
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| 2. SFN Group | 1.4 | ||
| 3. Sapient Corp. | 1.3 | ||
| 4. Seneca Foods Cl. B | 1.2 | ||
| 5. Tennant Company | 1.2 | ||
| 6. Richardson Electronics | 1.0 | ||
| 7. Raven Industries | 1.0 | ||
| 8. Epoch Holding Corp. | 1.0 | ||
| 9. Colony Financial | 0.9 | ||
| 10. Drew Industries | 0.9 | ||
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Top Five Industries |
% of Net Assets |
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| 1. Industrial Products | 23% | ||
| 2. Technology | 17 | ||
| 3. Industrial Services | 13 | ||
| 4. Natural Resources | 12 | ||
| 5. Health | 9 |
Recent Developments
Royce Micro-Cap Trust, Inc. (NYSE-RMT) has declared a quarterly distribution of $0.12 per share on its Common Stock. The distribution, optionally payable in additional shares of Common Stock, or in cash by specific stockholder election, is to be paid on March 23, 2011 to stockholders of record at the close of business on March 7, 2011 (ex-dividend on March 3, 2011). The price of shares issued for reinvestment will be determined on March 14, 2011.
Royce Micro-Cap Trust, Inc. has declared a cash dividend of $0.375 per share on its Cumulative Preferred Stock, based on an annual rate of 6.00% of the initial liquidation preference of $25.00 per share. The dividend is to be paid on March 23, 2011 to stockholders of record at the close of business on March 7, 2011 (ex-dividend on March 3, 2011).
The Board of Directors of Royce Micro-Cap Trust (NYSE: RMT) has approved the resumption of a quarterly distribution policy for Common Stockholders, beginning in March 2011, at the annual rate of 5%. As of December 31, 2010, the Fund had fully utilized its capital loss carryforwards for federal income tax purposes, allowing the managed distribution policy to be reinstated.
Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) and 6.00% Cumulative Preferred Stock (RMTpra) are listed and traded on the New York Stock Exchange. The Fund’s investment goal is long-term capital growth, which it seeks by investing primarily in equity securities of companies that, at the time of investment, have market capitalization of $500 million or less.
Daily net asset values (NAVs) for Royce Micro-Cap Trust, Inc. are now available on our website and online through most ticker symbol lookup services and on broker terminals under the symbol XOTCX. For more information, please call The Royce Funds at (800) 221-4268 or visit our website at www.roycefunds.com