Royce Global Value Trust, Inc. (NYSE:RGT) Sees Large Drop in Short Interest

Royce Global Value Trust, Inc. (NYSE:RGT) was the target of a significant drop in short interest in August. As of August 31st, there was short interest totaling 5,402 shares, a drop of 57.7% from the August 15th total of 12,766 shares. Based on an average daily trading volume, of 28,636 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of Royce Global Value Trust

A number of hedge funds and other institutional investors have recently made changes to their positions in RGT. 1607 Capital Partners LLC acquired a new position in Royce Global Value Trust in the fourth quarter worth approximately $1,279,000. Beckerman Institutional LLC acquired a new stake in shares of Royce Global Value Trust during the 2nd quarter valued at $612,000. Blue Bell Private Wealth Management LLC lifted its position in shares of Royce Global Value Trust by 34.2% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 96,580 shares of the company’s stock valued at $1,266,000 after acquiring an additional 24,629 shares during the last quarter. Fifth Third Bancorp bought a new stake in shares of Royce Global Value Trust during the 1st quarter worth $48,000. Finally, Tidal Investments LLC boosted its stake in shares of Royce Global Value Trust by 5.3% during the 2nd quarter. Tidal Investments LLC now owns 30,535 shares of the company’s stock worth $435,000 after acquiring an additional 1,539 shares in the last quarter.

Royce Global Value Trust Price Performance

Royce Global Value Trust stock traded down $0.14 during midday trading on Tuesday, hitting $14.29. The company’s stock had a trading volume of 9,676 shares, compared to its average volume of 21,183. Royce Global Value Trust has a 12 month low of $12.01 and a 12 month high of $15.79. The stock’s 50-day moving average price is $15.02 and its 200-day moving average price is $14.46.

About Royce Global Value Trust

Royce Global Value Trust, Inc is a closed-end management investment company that trades on the New York Stock Exchange under the ticker symbol RGT. Incorporated in Maryland and based in New York, the Trust seeks to provide total return through a combination of capital appreciation and current income. It achieves its objective by investing in a diversified portfolio of equity securities of domestic and foreign companies, with a focus on undervalued, out-of-favor businesses that management believes offer attractive long-term growth potential.

The Trust’s investment strategy emphasizes bottom-up stock selection, targeting primarily small- and mid-capitalization companies across developed and emerging markets.