Royce Micro-Cap Trust (NYSE: RMT) as of Aug 31, 2026
Shares closed below their per-share net asset value, while market-price total returns exceeded NAV returns across all reported periods.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Royce Micro-Cap Trust (NYSE: RMT) reported a net asset value of $15.55 per share as of August 31, 2026. Its market closing price was $14.00, below net asset value, which represents assets minus liabilities per share. Net assets were $842.5 million, and net leverage was 3.0%.
Year-to-date total returns were 36.14% on net asset value and 38.56% on market price; one-year returns were 44.75% and 47.88%, respectively. One-month returns were 1.63% and 2.79%. Annualized returns over three, five and 10 years were 24.26%, 11.81% and 14.50% on net asset value, versus 25.48%, 12.39% and 14.95% on market price. Returns reflect reinvested distributions and are net of the investment advisory fee.
Industrials represented 25.6% of net assets, the largest sector allocation. EZCORP Class A and CareDx were the largest listed positions, each at 1.4% of net assets; portfolio weights are subject to change.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointOne-year total returns were 44.75% on NAV and 47.88% on market price through August 31, 2026.
- Minor pointYear-to-date total returns were 36.14% on NAV and 38.56% on market price, not annualized.
- Minor pointThree-year annualized total returns were 24.26% on NAV and 25.48% on market price.
- Minor pointFive-year annualized total returns were 11.81% on NAV and 12.39% on market price.
- Minor point10-year annualized total returns were 14.50% on NAV and 14.95% on market price.
- Minor pointOne-month total returns were 1.63% on NAV and 2.79% on market price, not annualized.
Negative
- Minor pointMarket closing price of $14.00 was below net asset value of $15.55 on August 31, 2026.
- Minor pointNet leverage was 3.0%, representing equity-type investments above net assets.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Average weekly trading volume of approximately 493,146 shares
- Fund's adviser has more than 50 years of small- and micro-cap investment experience
|
CLOSING PRICES AS OF 08/31/26 |
|
|
NAV |
15.55 |
|
MKT |
14.00 |
|
AVERAGE ANNUAL TOTAL RETURN AS OF 08/31/26 |
NAV (%) |
MKT (%) |
|
One-Month* |
1.63 |
2.79 |
|
Year to Date* |
36.14 |
38.56 |
|
One-Year |
44.75 |
47.88 |
|
Three-Year |
24.26 |
25.48 |
|
Five-Year |
11.81 |
12.39 |
|
10-Year |
14.50 |
14.95 |
|
*Not Annualized |
|
|
Important Performance and Expense Information
All performance information reflects past performance, is presented on a total return basis, net of the Fund's investment advisory fee, and reflects the reinvestment of distributions. Past performance is no guarantee of future results Current performance may be higher or lower than performance quoted. Returns as of the recent month-end may be obtained at www.royceinvest.com. The market price of the Fund's shares will fluctuate, so that shares may be worth more or less than their original cost when sold.
The Fund normally invests in micro-cap companies, which may involve considerably more risk than investing in larger-cap companies. The Fund's broadly diversified portfolio does not ensure a profit or guarantee against loss.
|
PORTFOLIO DIAGNOSTICS |
|
|
Average Market Cap1 |
|
|
Weighted Average P/B2 |
2.2x |
|
Net Assets |
|
|
Net Leverage |
3.0 % |
1Geometric Average: This weighted calculation uses each portfolio holding's market cap in a way designed to not skew the effect of very large or small holdings; instead, it aims to better identify the portfolio's center, which Royce believes offers a more accurate measure of average market cap than a simple mean or median.
2Harmonic Average: This weighted calculation evaluates a portfolio as if it were a single stock and measures it overall. It compares the total market value of the portfolio to the portfolio's share in the earnings of its underlying stocks.
The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.
Net leverage is the percentage, in excess of 100 %, of the total value of equity type investments, divided by net assets.
Portfolio Composition
|
TOP 10 POSITIONS |
% OF NET ASSETS (SUBJECT TO |
|
EZCORP Cl. A |
1.4 |
|
CareDx |
1.4 |
|
AMN Healthcare Services |
1.2 |
|
Citi Trends |
1.2 |
|
Lindblad Expeditions Holdings |
1.2 |
|
Sprott |
1.2 |
|
Graham Corporation |
1.2 |
|
IMAX Corporation |
1.1 |
|
Bel Fuse Cl. B |
1.1 |
|
Oppenheimer Holdings Cl. A |
1.1 |
|
TOP FIVE SECTORS |
% OF NET ASSETS (SUBJECT TO |
|
Industrials |
25.6 |
|
Information Technology |
21.0 |
|
Health Care |
16.3 |
|
Financials |
13.3 |
|
Consumer Discretionary |
12.9 |
Recent Developments
Royce Micro-Cap Trust, Inc. is a closed-end diversified investment company whose shares of Common Stock (RMT) 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
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.royceinvest.com
An investor in Royce Micro-Cap Trust should consider the Fund's investment goals, risks, fees, and expenses carefully before investing.
Important Disclosure Information
Closed-End Funds are registered investment companies whose shares of common stock may trade at a discount to their net asset value. Shares of each Fund's common stock are also subject to the market risks of investing in the underlying portfolio securities held by the Fund. Royce Fund Services, LLC. ("RFS") is a member of FINRA and has filed this material with FINRA on behalf of each Fund. RFS does not serve as a distributor or as an underwriter to the closed-end funds.
View original content:https://www.prnewswire.com/news-releases/royce-micro-cap-trust-nyse-rmt-as-of-aug-31-2026-302895071.html
SOURCE Royce Micro-Cap Trust, Inc.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What were RMT's year-to-date returns through August 31, 2026?
RMT's year-to-date total returns were 36.14% on net asset value and 38.56% on market price through August 31, 2026. These returns are not annualized, reflect reinvested distributions and are net of the Fund's investment advisory fee.