Molex Class A was up 55% yesterday on a takeover announcement. At last report, this stock was the second largest position in Royce Special Equity Fund -- a position comprising over 4% of assets.
A little rough arithmetic: 55% x .04 = 2.2%
So Molex alone added about 2.2% to the days gains.
RYSEX for the day was up by 3.7%
Cool.
This has happened before with stocks in the Royce Special Equity Fund. The nature of the stocks the fund holds makes them attractive takeover targets. Without a catalyst, the stocks can also languish, as they might be considered by some to be a little "boring". One can never count on takeover activity, but it's always nice when it happens.
