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

Oxford Lane Capital Corp. (NASDAQ:OXLC)’s share price 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 7.3 %

The business has a 50-day moving average of $4.92 and a 200 day moving average of $5.11. The firm has a market capitalization of $1.50 billion, a PE ratio of 5.23 and a beta of 1.17.

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

Oxford Lane Capital Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 16th will be paid a $0.09 dividend. The ex-dividend date of this dividend is Tuesday, September 16th. This represents a $1.08 annualized dividend and a yield of 24.88%. Oxford Lane Capital’s dividend payout ratio (DPR) is 127.71%.

Hedge Funds Weigh In On Oxford Lane Capital

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new stake in Oxford Lane Capital during the third quarter worth $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 valued at $9,373,000 after purchasing an additional 445,000 shares during the last quarter. Realta Investment Advisors raised 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 period. Raymond James Financial Inc. purchased a new position in shares of Oxford Lane Capital in the 4th quarter worth about $1,079,000. Finally, Apollon Wealth Management LLC purchased a new position in shares of Oxford Lane Capital in the 4th quarter worth about $290,000. 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.