Oxford Lane Capital (NASDAQ:OXLC) Stock Price Down 5% – Here’s Why

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s share price dropped 5% during mid-day trading on Friday . The stock traded as low as $4.32 and last traded at $4.45. Approximately 6,144,166 shares traded hands during mid-day trading, an increase of 27% from the average daily volume of 4,834,047 shares. The stock had previously closed at $4.68.

Oxford Lane Capital Stock Down 7.2 %

The firm has a fifty day simple moving average of $4.93 and a 200-day simple moving average of $5.11. The company has a market capitalization of $1.50 billion, a P/E ratio of 5.23 and a beta of 1.17.

Oxford Lane Capital (NASDAQ:OXLC) last posted its quarterly earnings data 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 company also recently announced a monthly dividend, which will be paid on Tuesday, September 30th. Investors of record on Tuesday, September 16th will be given a $0.09 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 24.86%. The ex-dividend date of this dividend is Tuesday, September 16th. Oxford Lane Capital’s dividend payout ratio is presently 127.71%.

Institutional Trading of Oxford Lane Capital

Hedge funds and other institutional investors have recently made changes to their positions in the business. Rockefeller Capital Management L.P. bought a new position in shares of Oxford Lane Capital in the 3rd quarter valued at about $777,000. Border to Coast Pensions Partnership Ltd increased its position in shares of Oxford Lane Capital by 31.7% during the 4th 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 purchasing an additional 445,000 shares during the last quarter. Realta Investment Advisors increased its position 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 acquired a new stake in shares of Oxford Lane Capital in the 4th quarter valued at approximately $290,000. Finally, TrueMark Investments LLC grew its stake in shares of Oxford Lane Capital by 88.5% in the fourth 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 in the last quarter. 6.74% of the stock is currently owned by institutional investors and hedge funds.

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.