Oxford Lane Capital (NASDAQ:OXLC) Shares Down 5.8% - Here's Why

Key Points

• Shares fell 5.8% to $10.065 on Friday, with mid-day volume of about 587,569 shares—roughly 66% below the average session volume.
• Oxford Lane announced a monthly $0.20 dividend (ex- and record date June 16, payable June 30), which implies an annualized yield of about 24.2%.
• Hedge funds have been increasing stakes—notably North Ground and Jane Street—although total institutional and hedge ownership is reported at only 6.74%.

Oxford Lane Capital Corp. (NASDAQ:OXLC - Get Free Report) shares traded down 5.8% on Friday . The stock traded as low as $10.03 and last traded at $10.0650. 587,569 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 1,746,552 shares. The stock had previously closed at $10.69.

Oxford Lane Capital Stock Performance

The stock has a 50 day moving average of $13.75 and a 200 day moving average of $15.50. The stock has a market capitalization of $899.21 million, a P/E ratio of 1.61 and a beta of 0.73.

Oxford Lane Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 16th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 24.2%.

Hedge Funds Weigh In On Oxford Lane Capital

Hedge funds have recently made changes to their positions in the company. North Ground Capital raised its position in shares of Oxford Lane Capital by 144.6% during the 4th quarter. North Ground Capital now owns 1,032,585 shares of the investment management company's stock worth $15,117,000 after purchasing an additional 610,363 shares during the last quarter. Jane Street Group LLC grew its stake in shares of Oxford Lane Capital by 1,520.4% in the second quarter. Jane Street Group LLC now owns 594,696 shares of the investment management company's stock valued at $2,498,000 after buying an additional 557,996 shares in the last quarter. Eagle Point Credit Management LLC acquired a new position in Oxford Lane Capital during the fourth quarter worth approximately $7,272,000. Bulldog Investors LLP acquired a new position in shares of Oxford Lane Capital in the third quarter valued at approximately $7,573,000. Finally, Alpine Global Management LLC bought a new stake in Oxford Lane Capital during the third quarter worth $3,762,000. Institutional investors and hedge funds own 6.74% of the company's stock.

Oxford Lane Capital Company Profile

Oxford Lane Capital Corp is a closed-end, externally managed investment company that seeks to generate high current income and capital appreciation. The company invests primarily in debt and equity securities of private funds managed or advised by Oxford Finance LLC, targeting U.S. middle-market companies. Its portfolio spans senior secured loans, mezzanine debt and private equity interests, providing diversification across credit instruments and industry sectors.

Established in 2009 and based in Greenwich, Connecticut, Oxford Lane Capital commenced operations in 2012.

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