Oxford Lane Capital (NASDAQ:OXLC) Shares Up 1.2% Following Dividend Announcement

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s stock price shot up 1.2% on Tuesday following a dividend announcement from the company. The stock traded as high as $4.78 and last traded at $4.78. 1,516,576 shares were traded during mid-day trading, a decline of 68% from the average session volume of 4,709,968 shares. The stock had previously closed at $4.72.

The newly announced dividend which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be given a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.08 dividend on an annualized basis and a yield of 22.45%. Oxford Lane Capital’s payout ratio is currently 127.71%.

Oxford Lane Capital Price Performance

The business has a fifty day moving average of $4.94 and a 200 day moving average of $5.12. The stock has a market cap of $1.66 billion, a PE ratio of 5.80 and a beta of 1.17.

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

Institutional Trading of Oxford Lane Capital

Several hedge funds have recently bought and sold shares of the company. Rockefeller Capital Management L.P. acquired a new stake in shares of Oxford Lane Capital in the third quarter valued at approximately $777,000. Border to Coast Pensions Partnership Ltd increased its holdings in shares of Oxford Lane Capital by 31.7% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 1,850,000 shares of the investment management company’s stock valued at $9,373,000 after purchasing an additional 445,000 shares during the period. Realta Investment Advisors raised its stake in shares of Oxford Lane Capital by 15.9% during the fourth quarter. Realta Investment Advisors now owns 1,030,232 shares of the investment management company’s stock valued at $5,254,000 after purchasing an additional 141,536 shares in the last quarter. Apollon Wealth Management LLC bought a new position in Oxford Lane Capital in the 4th quarter valued at about $290,000. Finally, TrueMark Investments LLC increased its stake in Oxford Lane Capital by 88.5% during the 4th quarter. TrueMark Investments LLC now owns 998,125 shares of the investment management company’s stock valued at $5,060,000 after buying an additional 468,696 shares during the period. 6.74% of the stock is currently owned by 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.