Oxford Lane Capital (NASDAQ:OXLC) Trading Down 4.1% – Here’s Why

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) were down 4.1% during trading on Wednesday . The stock traded as low as $8.55 and last traded at $8.4160. Approximately 420,444 shares changed hands during trading, a decline of 72% from the average daily volume of 1,526,447 shares. The stock had previously closed at $8.78.

Oxford Lane Capital Stock Performance

The company’s 50-day moving average is $9.86 and its 200 day moving average is $11.22. The company has a market capitalization of $758.18 million, a PE ratio of 1.29 and a beta of 0.63.

Oxford Lane Capital Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Wednesday, September 16th will be issued a dividend of $0.20 per share. This represents a c) dividend on an annualized basis and a dividend yield of 28.7%. The ex-dividend date of this dividend is Wednesday, September 16th. Oxford Lane Capital’s dividend payout ratio (DPR) is presently 67.34%.

Institutional Trading of Oxford Lane Capital

A number of institutional investors have recently made changes to their positions in the stock. McIlrath & Eck LLC boosted its holdings in shares of Oxford Lane Capital by 585.3% during the 1st quarter. McIlrath & Eck LLC now owns 42,263 shares of the investment management company’s stock valued at $413,000 after acquiring an additional 36,096 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in shares of Oxford Lane Capital by 62.8% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,000 shares of the investment management company’s stock valued at $68,000 after acquiring an additional 2,700 shares during the last quarter. Saba Capital Management L.P. purchased a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $18,114,000. Polar Asset Management Partners Inc. purchased a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $19,560,000. Finally, Kohlberg Kravis Roberts & Co. L.P. purchased a new stake in shares of Oxford Lane Capital during the 1st quarter valued at about $31,171,000. Hedge funds and other institutional investors own 6.74% of the company’s stock.

About Oxford Lane Capital

Oxford Lane Capital Corp is a closed-end, externally managed investment company that seeks to generate high current income and capital appreciation. The company invests primarily in debt and equity securities of private funds managed or advised by Oxford Finance LLC, targeting U.S. middle-market companies. Its portfolio spans senior secured loans, mezzanine debt and private equity interests, providing diversification across credit instruments and industry sectors.

Established in 2009 and based in Greenwich, Connecticut, Oxford Lane Capital commenced operations in 2012.