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

Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report)'s stock price was up 1% on Thursday after the company announced a dividend. The company traded as high as $4.48 and last traded at $4.47. Approximately 890,268 shares traded hands during trading, a decline of 82% from the average daily 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. Stockholders of record on Thursday, April 17th will be issued a dividend of $0.09 per share. This represents a dividend yield of 24.43%. The ex-dividend date of this dividend is Wednesday, April 16th. Oxford Lane Capital's dividend payout ratio is currently 127.71%.

Oxford Lane Capital Trading Down 2.7 %

The business has a fifty day simple moving average of $4.76 and a 200 day simple moving average of $5.04. The stock has a market capitalization of $1.47 billion, a P/E ratio of 5.13 and a beta of 0.84.

Oxford Lane Capital (NASDAQ:OXLC - Get Free Report) last posted its quarterly earnings data 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).

Hedge Funds Weigh In On Oxford Lane Capital

A number of hedge funds and other institutional investors have recently modified their holdings of OXLC. Citadel Advisors LLC lifted its holdings in Oxford Lane Capital by 333.5% during the fourth quarter. Citadel Advisors LLC now owns 961,271 shares of the investment management company's stock valued at $4,874,000 after purchasing an additional 739,506 shares during the last quarter. TrueMark Investments LLC lifted its position in Oxford Lane Capital by 88.5% during the fourth 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. Border to Coast Pensions Partnership Ltd lifted its stake in Oxford Lane Capital by 31.7% during 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 purchasing an additional 445,000 shares during the last quarter. Jane Street Group LLC grew its position in Oxford Lane Capital by 905.9% during the fourth quarter. Jane Street Group LLC now owns 469,244 shares of the investment management company's stock valued at $2,379,000 after acquiring an additional 422,593 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in Oxford Lane Capital by 42.7% in the fourth quarter. LPL Financial LLC now owns 897,345 shares of the investment management company's stock worth $4,550,000 after purchasing an additional 268,631 shares during the last quarter. 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.