Oxford Lane Capital (NASDAQ:OXLC) Trading Up 1.4% – Here’s Why

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s share price traded up 1.4% during mid-day trading on Monday . The stock traded as high as $4.59 and last traded at $4.49. 2,479,386 shares changed hands during mid-day trading, a decline of 50% from the average session volume of 5,008,530 shares. The stock had previously closed at $4.43.

Oxford Lane Capital Price Performance

The firm’s 50 day moving average price is $4.83 and its 200-day moving average price is $5.07. The stock has a market cap of $1.56 billion, a P/E ratio of 5.45 and a beta of 0.84.

Oxford Lane Capital (NASDAQ:OXLC) last issued its earnings results on Monday, January 27th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.67 by ($0.39).

Oxford Lane Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a dividend of $0.09 per share. This represents a $1.08 annualized dividend and a yield of 23.89%. The ex-dividend date is Tuesday, September 16th. Oxford Lane Capital’s dividend payout ratio is currently 127.71%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in OXLC. Joule Financial LLC grew its position in Oxford Lane Capital by 42.7% in the 1st quarter. Joule Financial LLC now owns 26,794 shares of the investment management company’s stock worth $126,000 after purchasing an additional 8,021 shares during the period. Fermata Advisors LLC purchased a new stake in Oxford Lane Capital during the first quarter valued at $191,000. Buska Wealth Management LLC bought a new position in Oxford Lane Capital in the first quarter valued at about $462,000. Capital CS Group LLC boosted its position in Oxford Lane Capital by 39.3% in the first quarter. Capital CS Group LLC now owns 42,802 shares of the investment management company’s stock worth $202,000 after purchasing an additional 12,072 shares during the last quarter. Finally, Sage Capital Advisors llc grew its stake in shares of Oxford Lane Capital by 7.4% during the 1st quarter. Sage Capital Advisors llc now owns 68,663 shares of the investment management company’s stock valued at $324,000 after purchasing an additional 4,750 shares during the period. 6.74% of the stock is owned by hedge funds and other institutional investors.

About Oxford Lane Capital

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.