Oxford Lane Capital (NASDAQ:OXLC) Shares Up 1% After Dividend Announcement

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) traded up 1% during trading on Thursday after the company announced a dividend. The stock traded as high as $4.48 and last traded at $4.47. 890,268 shares traded hands during trading, a decline of 82% from the average session volume of 5,027,804 shares. The stock had previously closed at $4.42.

The newly announced dividend which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 17th will be given a $0.09 dividend. This represents a yield of 24.43%. The ex-dividend date of this dividend is Wednesday, April 16th. Oxford Lane Capital’s payout ratio is currently 127.71%.

Oxford Lane Capital Trading Down 0.9 %

The stock has a market capitalization of $1.52 billion, a PE ratio of 5.28 and a beta of 0.84. The stock’s fifty day simple moving average is $4.76 and its 200-day simple moving average is $5.04.

Oxford Lane Capital (NASDAQ:OXLC) last released 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).

Hedge Funds Weigh In On Oxford Lane Capital

Hedge funds and other institutional investors have recently modified their holdings of the business. Insigneo Advisory Services LLC bought a new stake in Oxford Lane Capital during the first quarter worth $47,000. Cornell Pochily Investment Advisors Inc. purchased a new stake in shares of Oxford Lane Capital during the 1st quarter valued at $48,000. Partners Wealth Management LLC raised its stake in shares of Oxford Lane Capital by 14.7% during the 1st quarter. Partners Wealth Management LLC now owns 46,702 shares of the investment management company’s stock worth $220,000 after purchasing an additional 6,000 shares during the period. GPS Wealth Strategies Group LLC boosted its holdings in shares of Oxford Lane Capital by 38.8% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 11,442 shares of the investment management company’s stock worth $54,000 after buying an additional 3,200 shares during the last quarter. Finally, Parisi Gray Wealth Management grew its position in Oxford Lane Capital by 60.0% during the first quarter. Parisi Gray Wealth Management now owns 32,000 shares of the investment management company’s stock valued at $151,000 after buying an additional 12,000 shares during the period. Hedge funds and other institutional investors own 6.74% of the company’s stock.

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.