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Royce Micro-Cap Trust (NYSE: RMT) As Of October 31, 2011

Stocks in this article: RMT

Royce Micro-Cap Trust (NYSE: RMT) as of October 31, 2011

  • 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

Closing Prices – October 31, 2011

   
 
NAV $ 10.07
MKT $ 8.59
 

Total Return Performance

Periods ended October 31, 2011

NAV

MKT

 
1 Month* 13.53% 12.43%
Year to Date* -7.27 -8.47
One-Year 3.86 4.82
Three-Year Average Annual 15.12 13.80
Five-Year Average Annual 0.03 -3.50
10-Year Average Annual 8.52 8.57
 
*Not annualized
 

Portfolio Diagnostics

 
Wtd Average Geometric Market Cap: $305 million
Wtd. Average P/E Ratio: 15.5x*
Wtd. Average P/B Ratio: 1.3x
Net Assets Applicable to Common Stock: $343 million
Net Leverage: 4.9%
 

*Excludes 21% of portfolio holdings with zero or negative earnings as of 10/31/11.

 

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.

 

Portfolio Composition

 

Top 10 Positions

% of Net Assets

1. Kennedy-Wilson Holdings 2.0%
2. Sapient Corporation 1.5
3. Epoch Holding Corporation 1.4
4. Tennant Company 1.3
5. Charming Shoppes 1.2
6. Raven Industries 1.2
7. Richardson Electronics 1.1
8. Drew Industries 1.1
9. America’s Car-Mart 1.1
10. HEICO Corp. 1.1
 

Top Five Sectors

% of Net Assets

1. Industrials 26%
2. Information Technology 21
3. Financials 20
4. Consumer Discretionary 13
5. Materials 9

Recent Developments

Royce Micro-Cap Trust (NYSE: RMT) resumed a quarterly distribution policy for Common Stockholders, beginning in March 2011, at the annual rate of 5%.

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