Waterfront Wealth Inc. Has $3.98 Million Stake in Royce Value Trust Inc. (NYSE:RVT)

Waterfront Wealth Inc. lifted its position in shares of Royce Value Trust Inc. (NYSE:RVT) by 2.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 275,349 shares of the financial services provider’s stock after purchasing an additional 7,613 shares during the period. Royce Value Trust comprises approximately 1.1% of Waterfront Wealth Inc.’s portfolio, making the stock its 20th largest holding. Waterfront Wealth Inc.’s holdings in Royce Value Trust were worth $3,984,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RVT. Cornerstone Advisors LLC boosted its holdings in shares of Royce Value Trust by 50.9% during the 4th quarter. Cornerstone Advisors LLC now owns 938,773 shares of the financial services provider’s stock valued at $13,669,000 after acquiring an additional 316,767 shares in the last quarter. Cetera Advisors LLC acquired a new stake in shares of Royce Value Trust during the 1st quarter valued at $4,003,000. Rothschild Investment LLC acquired a new stake in shares of Royce Value Trust during the 2nd quarter valued at $2,543,000. Lazard Asset Management LLC boosted its holdings in shares of Royce Value Trust by 62.5% during the 1st quarter. Lazard Asset Management LLC now owns 384,792 shares of the financial services provider’s stock valued at $5,837,000 after acquiring an additional 147,935 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Royce Value Trust by 10.3% during the 4th quarter. Stifel Financial Corp now owns 684,741 shares of the financial services provider’s stock valued at $9,970,000 after acquiring an additional 63,923 shares in the last quarter. Institutional investors and hedge funds own 25.57% of the company’s stock.

Insiders Place Their Bets

In related news, President Christopher D. Clark bought 3,400 shares of the business’s stock in a transaction on Friday, August 16th. The shares were purchased at an average cost of $15.20 per share, with a total value of $51,680.00. Following the acquisition, the president now owns 36,057 shares of the company’s stock, valued at $548,066.40. The purchase was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.06% of the company’s stock.

Royce Value Trust Trading Up 0.4 %

Shares of NYSE RVT traded up $0.06 during mid-day trading on Friday, hitting $15.55. 199,243 shares of the stock traded hands, compared to its average volume of 252,913. Royce Value Trust Inc. has a twelve month low of $11.85 and a twelve month high of $16.16. The firm has a 50 day simple moving average of $15.05 and a two-hundred day simple moving average of $14.75.

Royce Value Trust Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 24th. Shareholders of record on Thursday, June 13th were issued a dividend of $0.28 per share. The ex-dividend date was Thursday, June 13th. This is an increase from Royce Value Trust’s previous quarterly dividend of $0.27. This represents a $1.12 annualized dividend and a yield of 7.20%.

Royce Value Trust Profile

Royce Value Trust Inc is a close ended equity mutual fund launched and managed by Royce & Associates, LLC. It invests in the public equity markets of the United States. The fund spreads its investments across diversified sectors. It invests in value oriented stocks of small cap and micro cap companies.