Welcome to our dedicated page for Royce Small-Cap Trust news (Ticker: RVT), a resource for investors and traders seeking the latest updates and insights on Royce Small-Cap Trust stock.
Royce Small-Cap Trust, Inc. is a diversified closed-end management investment company whose common stock trades on the New York Stock Exchange under RVT. The fund seeks long-term capital growth and, under normal circumstances, invests at least 80% of net assets in equity securities of small-cap companies.
The fund's announcements primarily cover quarterly common stock distributions, stock-or-cash election mechanics, estimated distribution sources, NAV-based distribution policy details, and fund performance and distribution-rate information. Its public record also reflects the completed 2024 name change from Royce Value Trust and the related small-cap investment policy update.
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Royce Value Trust, the oldest and largest small-cap closed-end fund, reported a NAV of 15.68 and a market price of 13.55 as of August 31, 2020. The fund averages a weekly trading volume of over 1 million shares, managed by an adviser with over 40 years of experience in small- and micro-cap investments. The fund holds approximately $1.58B in net assets, with notable positions in sectors like Information Technology (23.7%) and Industrials (23.1%). Despite a -0.34% year-to-date return in NAV, the one-year return stands at 12.25%.
Royce Value Trust (NYSE-RVT) declared a quarterly distribution of $0.25 per share on its Common Stock, payable on September 25, 2020. This distribution, which can be received in cash or additional shares, targets stockholders of record by September 11, 2020. The Trust maintains a 7% annual distribution policy based on average NAV. However, a portion may be a return of capital, indicating that some funds returned to investors might not represent investment performance. The current distribution includes 78% from realized long-term gains.
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Royce Value Trust, Inc. (NYSE: RVT) announced that stockholders approved a new investment advisory agreement with Royce Investment Partners during a Special Meeting on July 29, 2020. This change follows the anticipated acquisition of Legg Mason by Franklin Resources, which requires the termination of the current agreement. The new agreement maintains the existing investment advisory fee rate and does not alter the Fund's portfolio management, investment objective, or strategy. This approval promises continuity in management and strategy.
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