Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal

Year.

Amended and Restated By-Laws. On January 25, 2021, the Board of Directors of Royce Value Trust, Inc., a registered closed-end management investment company (the "Fund"), amended and restated in its entirety the Amended and Restated By-Laws of the Fund (the "Amended and Restated By-Laws"). The Amended and Restated By-Laws are attached hereto as Exhibit 3.1 and are incorporated herein by reference.

On January 25, 2021, the Fund issued a press release in connection with the adoption of the Amended and Restated By-Laws.

Item 9.01 Financial Statements and Exhibits.




(d)  Exhibits




 3.1   Amended and Restated By-Laws

99.1   Press Release, dated  January 25, 2021

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