Oxford Lane Capital (NASDAQ:OXLC) Trading Up 1.2% After Dividend Announcement

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s stock price rose 1.2% on Tuesday after the company announced a dividend. The stock traded as high as $4.78 and last traded at $4.78. Approximately 1,516,576 shares changed hands during trading, a decline of 68% from the average daily 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. Stockholders of record on Tuesday, September 16th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, September 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 22.57%. Oxford Lane Capital’s dividend payout ratio is 127.71%.

Oxford Lane Capital Price Performance

The firm’s fifty day moving average is $4.95 and its 200 day moving average is $5.12. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 5.77 and a beta of 1.17.

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

Institutional Investors Weigh In On Oxford Lane Capital

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. acquired a new position in Oxford Lane Capital in the third quarter worth approximately $777,000. Border to Coast Pensions Partnership Ltd grew its position in Oxford Lane Capital by 31.7% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 1,850,000 shares of the investment management company’s stock worth $9,373,000 after acquiring an additional 445,000 shares in the last quarter. Realta Investment Advisors increased its stake in shares of Oxford Lane Capital by 15.9% during the 4th quarter. Realta Investment Advisors now owns 1,030,232 shares of the investment management company’s stock worth $5,254,000 after purchasing an additional 141,536 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of Oxford Lane Capital during the 4th quarter valued at $290,000. Finally, TrueMark Investments LLC lifted its stake in shares of Oxford Lane Capital by 88.5% in the 4th quarter. TrueMark Investments LLC now owns 998,125 shares of the investment management company’s stock valued at $5,060,000 after purchasing an additional 468,696 shares during the last quarter. 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.