Perritt Ultra MicroCap Fund
PREOX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 300 S. Wacker Drive Chicago IL United States of America 60606
- IPO Date
- Sep 13, 2004
- CIK
- 0001286087
- Similar Companies
- Business
- Perritt Ultra MicroCap Fund (PREOX) is an open-end mutual fund that seeks long-term capital appreciation by investing primarily in common stocks of U.S. micro-cap companies with market capitalizations below $300 million at the time of initial purchase; the fund normally allocates at least 80% of its net assets to such equity securities, including those of early-stage companies with market caps under $50 million, employing a bottom-up approach that emphasizes niche businesses with innovative products, services, strong financials, and franchise-building potential evaluated via a nine-point criteria. It offers no-load shares with a 2% redemption fee on holdings of 90 days or less, minimum initial investments of $1,000 ($250 for IRAs), and features such as automatic investment plans, dividend reinvestment, and exchanges with other Perritt Funds; the fund maintains a diversified portfolio typically comprising 75-76 holdings with low analyst coverage (average of 2 analysts), median market cap around $97 million, median P/E of 10.5, and price-to-book of 1.2, targeting sectors like industrials while exposing investors to micro-cap risks including high volatility, liquidity constraints, and sensitivity to economic stress. Launched on August 27, 2004 and headquartered at 300 South Wacker Drive, Suite 600, Chicago, Illinois 60606 as a series of Perritt Funds, Inc., the fund is advised by Perritt Capital Management, Inc. (established 1987), which applies a 1.25% annual management fee on average daily net assets supplemented by other expenses yielding a total expense ratio of 2.97% as of October 31, 2023; distribution is handled by Quasar Distributors, LLC on a continuous basis at NAV, with U.S.-focused operations serving individual and institutional investors seeking exposure to underfollowed ultra-microcap equities characterized by limited liquidity and greater upside potential. In a major strategic reorganization approved by the Board on August 5, 2024 and effective after market close on October 25, 2024, the fund's assets and liabilities transferred tax-free into the related Perritt MicroCap Opportunities Fund (PRCGX), another Perritt Funds series with aligned objectives but a higher $500 million market cap threshold, lower 1.00% management fee, and 1.68% expense ratio, resulting in a pro forma combined expense ratio of 1.63%—a reduction of approximately 1.34% for former PREOX shareholders; this merger, recommended by the adviser to address PREOX's low asset base, poor sales prospects, and elevated costs, led to PREOX's termination while delivering shareholders equivalent NAV in PRCGX shares without sales charges or dilution, with the adviser absorbing all reorganization expenses including legal, printing, and registration fees.