Oxford Lane Capital (NASDAQ:OXLC) Sets New 52-Week Low - Here's Why

Key Points

• Oxford Lane Capital's stock reached a new 52-week low of $3.26, with a substantial trading volume of over 3 million shares on Thursday.
• The company declared a $0.09 dividend recently, yielding an extraordinarily high 2,667%, though its dividend payout ratio stands at 140.96%.
• Institutional investors are actively adjusting their holdings, with LPL Financial increasing its position by 42.7% in the fourth quarter.

Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $3.26 and last traded at $3.26, with a volume of 3005138 shares. The stock had previously closed at $3.36.

Oxford Lane Capital Stock Performance

The company's fifty day moving average is $4.00 and its 200-day moving average is $4.49. The company has a market capitalization of $1.56 billion, a PE ratio of 4.14 and a beta of 0.76.

Oxford Lane Capital Announces Dividend

The business also recently announced a dividend, which was paid on Thursday, July 31st. Investors of record on Friday, July 18th were given a dividend of $0.09 per share. The ex-dividend date was Thursday, July 17th. This represents a dividend yield of 2,667.0%. Oxford Lane Capital's dividend payout ratio is currently 140.96%.

Hedge Funds Weigh In On Oxford Lane Capital

Hedge funds and other institutional investors have recently modified their holdings of the stock. SWAN Capital LLC bought a new position in shares of Oxford Lane Capital during the fourth quarter worth $30,000. AdvisorNet Financial Inc grew its holdings in shares of Oxford Lane Capital by 92.5% in the second quarter. AdvisorNet Financial Inc now owns 6,198 shares of the investment management company's stock valued at $26,000 after purchasing an additional 2,979 shares in the last quarter. US Bancorp DE grew its holdings in shares of Oxford Lane Capital by 106.1% in the first quarter. US Bancorp DE now owns 6,300 shares of the investment management company's stock valued at $30,000 after purchasing an additional 3,243 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Oxford Lane Capital in the second quarter valued at $28,000. Finally, Insigneo Advisory Services LLC purchased a new position in Oxford Lane Capital during the first quarter worth $47,000. 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.