Royce Micro-Cap Trust Trades at 11% Discount with 26% One-Year Return
Royce Micro-Cap Trust’s shares closed January at an 11% discount, with NAV of $12.91 against a market price of $11.49. The fund posted a one-year total market return of 26.00% and holds $690.1 million in net assets across micro-cap equities.
1. NAV vs. Market Price
At January 31, 2026, the fund's net asset value stood at $12.91 per share while market price closed at $11.49, reflecting an 11% discount. Average weekly trading volume was approximately 684,629 shares, and total net assets amounted to $690.1 million.
2. Performance Overview
The fund delivered a one-month NAV return of 9.50% and a market return of 10.16%. Over the past year, NAV gained 25.47% while market return reached 26.00%, with three-year and five-year NAV returns of 15.65% and 9.87% respectively.
3. Portfolio Composition and Diagnostics
The portfolio's geometric average market capitalization is $930.3 million, with a weighted average price-to-book ratio of 2.1x and net leverage of 0.3%. Industrials (27%), Information Technology (22.1%), and Financials (15.1%) represent the top sectors, and top holdings include 5N Plus, Ichor Holdings and Ultra Clean Holdings.