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An Overview of Royce Micro-Cap Trust's Performance

Royce Micro-Cap Trust (NYSE: RMT) has become a notable player in the investment landscape, particularly for those interested in small- and micro-cap stocks. As of July 31, 2025, the Trust showcases a robust average weekly trading volume of approximately 660,208 shares, reflecting a healthy interest in its offerings.

The Fund, managed by an adviser with over 50 years of experience in micro-cap investments, focuses on achieving long-term capital growth. Its strategy involves investing predominantly in equity securities of companies whose market capitalizations do not exceed $1 billion at the time of investment. This tactical approach has yielded noteworthy results over the years.

Trading and Financial Highlights

In terms of financial performance, the Net Asset Value (NAV) stood at $10.76 while the market price was reported at $9.47. This discrepancy between NAV and market price raises interesting discussions among investors about the potential for capital gain, provided the Trust continues to perform positively in the market.

Analyzing the Annual Total Returns, we find that Royce Micro-Cap Trust has delivered commendable percentages:

• - One-Month: NAV at 1.89% and Market at 2.38%
• - Year to Date: NAV at 2.23% and Market at 1.32%
• - One-Year: NAV at 4.46% and Market at 3.60%
• - Three-Year: NAV at 10.51% and Market at 9.98%
• - Five-Year: NAV at 12.47% and Market at 13.60%
• - Ten-Year: NAV at 10.08% and Market at 10.33%

These figures underline not only the growth potential but also the consistency of returns, which are essential factors for investors considering micro-cap stocks.

Portfolio Analysis

Turning our attention to the portfolio diagnostics, the average market cap of companies within the Trust is approximately $740.7 million, paired with a weighted average P/B ratio of 1.8x. The total net assets amount to roughly $565.8 million, providing a solid foundation for continued investment and growth strategies. Notably, the current net leverage is at a manageable 2.3%, indicating that the Trust operates within prudent financial thresholds.

As for the Trust's composition, here are some of the top holdings by percentage of net assets:
1. CECO Environmental - 1.4%
2. American Superconductor - 1.3%
3. Bel Fuse - 1.3%
4. Graham Corporation - 1.3%
5. Argan - 1.1%

Additionally, major sectors that the Trust is invested in include:

• - Industrials: 29.0%
• - Information Technology: 20.7%
• - Financials: 17.3%
• - Health Care: 9.9%
• - Consumer Discretionary: 9.7%

These figures reflect a well-balanced approach across diverse sectors, which can mitigate risk while maximizing return potential.

Market Considerations

Investing in the Royce Micro-Cap Trust carries inherent risks, primarily due to the nature of micro-cap companies that can be more volatile than their larger counterparts. However, the Fund’s diversified portfolio is designed to harness the growth opportunities presented in this segment of the market. As the investment climate continually evolves, the Trust underscores the importance of a strategic approach in pursuing capital growth.

In conclusion, as of the latest available data, Royce Micro-Cap Trust continues to position itself attractively in the investment landscape, offering substantial trading volumes and solid returns that appeal to a variety of investors, from conservative to aggressive growth-seeking profiles. Investors are advised to consider their own financial goals and risk tolerance before engaging with the Trust's offerings.