Royce Micro-Cap Trust (NYSE: RMT) as of Oct 31, 2023

Rhea-AI Summary

Royce Micro-Cap Trust (RMT) provides long-term capital growth by investing primarily in equity securities of companies with a market capitalization of $1 billion or less. As of October 31, 2023, the fund's average weekly trading volume was approximately 549,425 shares. The fund's adviser has over 40 years of small- and micro-cap investment experience. The closing prices as of October 31, 2023, show a net asset value (NAV) of 8.93 and a market price (MKT) of 7.81. The average annual total return as of the same date was -2.91% (NAV) and -4.43% (MKT) year to date. The fund's portfolio diagnostics indicate an average market cap of $575.8M, weighted average P/E of 14.9x, weighted average P/B of 1.7x, and net assets of $438.8M. The top five sectors in the fund's portfolio are Information Technology, Industrials, Financials, Health Care, and Cash and Cash Equivalents. The top 10 positions in the fund's portfolio include Transcat, EVI Industries, PAR Technology, Mesa Laboratories, Sprott, Camtek, B. Riley Financial, Major Drilling Group International, Silvercrest Asset Management Group Cl. A, and Richardson Electronics. The fund's investment goal is long-term capital growth, and its daily net asset values (NAVs) are available on its website and through most ticker symbol lookup services and broker terminals under the symbol XOTCX.

Positive

• Long-term capital growth investment goal
• Experienced adviser with over 40 years of small- and micro-cap investment experience
• Average weekly trading volume of approximately 549,425 shares

Negative

• Negative average annual total return as of October 31, 2023
• Investment in micro-cap companies involves considerably more risk
• Market price of the fund's shares fluctuates

NEW YORK, Nov. 27, 2023 /PRNewswire/ -- 

• Average weekly trading volume of approximately 549,425 shares
• Fund's adviser has more than 40 years of small- and micro-cap investment experience

CLOSING PRICES AS OF 10/31/23
NAV	8.93
MKT	7.81
AVERAGE ANNUAL TOTAL RETURN AS OF 10/31/23	NAV (%)	MKT (%)
One-Month*	-6.30	-5.68
Year to Date*	-2.91	-4.43
One-Year	-0.17	-3.55
Three-Year	7.59	9.29
Five-Year	7.08	6.86
10-Year	7.04	6.96
*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	$575.8M
Weighted Average P/E2	14.9x
Weighted Average P/B2	1.7x
Net Assets	$438.8M

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-Earnings, or P/E, ratio is calculated by dividing a company's share price by its trailing 12-month earnings-per-share (EPS). The Fund's P/E ratio calculation excludes companies with zero or negative earnings (26% of portfolio holdings as of 10/31/23). The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.

The Price-to-Book, or P/B, Ratio is calculated by dividing a company's share price by its book value per share.

Portfolio Composition

TOP 10 POSITIONS	% OF NET ASSETS (SUBJECT TO CHANGE)
Transcat	2.7
EVI Industries	2.1
PAR Technology	1.9
Mesa Laboratories	1.8
Sprott	1.7
Camtek	1.6
B. Riley Financial	1.5
Major Drilling Group International	1.5
Silvercrest Asset Management Group Cl. A	1.5
Richardson Electronics	1.4
TOP FIVE SECTORS	% OF NET ASSETS (SUBJECT TO CHANGE)
Information Technology	19.9
Industrials	19.3
Financials	15.7
Health Care	10.3
Cash and Cash Equivalents, Net of Outstanding Line of Credit	7.9

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 $1 billion 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.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.

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SOURCE Royce Micro-Cap Trust

FAQ

What is the average weekly trading volume of Royce Micro-Cap Trust (RMT)?

The average weekly trading volume of Royce Micro-Cap Trust (RMT) is approximately 549,425 shares.

What is the investment goal of Royce Micro-Cap Trust (RMT)?

The investment goal of Royce Micro-Cap Trust (RMT) is long-term capital growth.

What are the top five sectors in Royce Micro-Cap Trust (RMT)'s portfolio?

The top five sectors in Royce Micro-Cap Trust (RMT)'s portfolio are Information Technology, Industrials, Financials, Health Care, and Cash and Cash Equivalents.

Where can I find the daily net asset values (NAVs) of Royce Micro-Cap Trust (RMT)?

The daily net asset values (NAVs) of Royce Micro-Cap Trust (RMT) are available on its website and through most ticker symbol lookup services and broker terminals under the symbol XOTCX.

What are the negative aspects of investing in Royce Micro-Cap Trust (RMT)?

Investing in micro-cap companies involves considerably more risk, and the market price of the fund's shares will fluctuate.