Oxford Lane Capital (NASDAQ:OXLC) Stock Price Down 5.3% – Time to Sell?

Oxford Lane Capital Corp. (NASDAQ:OXLC) dropped 5.3% during mid-day trading on Thursday . The stock traded as low as $4.62 and last traded at $4.68. Approximately 5,023,677 shares were traded during trading, an increase of 4% from the average daily volume of 4,808,119 shares. The stock had previously closed at $4.94.

Oxford Lane Capital Trading Down 5.3 %

The stock’s fifty day simple moving average is $4.94 and its 200 day simple moving average is $5.12. The company has a market cap of $1.62 billion, a price-to-earnings ratio of 5.64 and a beta of 1.17.

Oxford Lane Capital (NASDAQ:OXLC) last posted its quarterly 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 disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Tuesday, September 16th will be given a dividend of $0.09 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 23.08%. The ex-dividend date of this dividend is Tuesday, September 16th. Oxford Lane Capital’s dividend payout ratio is presently 127.71%.

Hedge Funds Weigh In On Oxford Lane Capital

Several hedge funds have recently made changes to their positions in OXLC. SWAN Capital LLC purchased a new stake in Oxford Lane Capital in the fourth quarter valued at approximately $30,000. Lewis Asset Management LLC purchased a new position in Oxford Lane Capital in the 4th quarter valued at $51,000. Walkner Condon Financial Advisors LLC acquired a new stake in shares of Oxford Lane Capital in the 4th quarter worth $51,000. Choreo LLC purchased a new stake in shares of Oxford Lane Capital in the fourth quarter valued at about $51,000. Finally, Titleist Asset Management LLC acquired a new position in shares of Oxford Lane Capital during the fourth quarter worth about $51,000. Hedge funds and other institutional investors own 6.74% of the company’s stock.

Oxford Lane Capital Company Profile

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.