Oxford Lane Capital (NASDAQ:OXLC) Shares Set to Reverse Split on Monday, September 8th

Key Points

• Oxford Lane Capital's stock is set for a 1-5 reverse split on September 8th, adjusting shares owned by shareholders after the market closes on September 5th.
• The firm announced a monthly $0.08 dividend scheduled for December 31st, with a dividend yield of 26.0% despite a payout ratio of 130.12%.
• Institutional ownership of Oxford Lane Capital is currently at 6.74%, with several firms recently increasing their stakes in the company.

Oxford Lane Capital Corp. (NASDAQ:OXLC - Free Report) shares are set to reverse split on the morning of Monday, September 8th. The 1-5 reverse split was announced on Tuesday, September 2nd. The number of shares owned by shareholders will be adjusted after the closing bell on Friday, September 5th.

Oxford Lane Capital Price Performance

OXLC traded down $0.29 on Monday, reaching $17.91. 377,207 shares of the company's stock were exchanged, compared to its average volume of 1,347,178. The stock has a market cap of $8.12 billion, a PE ratio of 21.60 and a beta of 0.78. Oxford Lane Capital has a twelve month low of $15.90 and a twelve month high of $27.44. The stock's fifty day moving average price is $18.73 and its 200-day moving average price is $21.45.

Oxford Lane Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th will be issued a $0.08 dividend. This represents a c) annualized dividend and a yield of 5.4%. The ex-dividend date is Wednesday, December 17th. Oxford Lane Capital's dividend payout ratio is presently 173.49%.

Institutional Trading of Oxford Lane Capital

A number of hedge funds and other institutional investors have recently made changes to their positions in OXLC. Citadel Advisors LLC raised its holdings in Oxford Lane Capital by 333.5% in the 4th quarter. Citadel Advisors LLC now owns 961,271 shares of the investment management company's stock valued at $4,874,000 after buying an additional 739,506 shares during the period. Jane Street Group LLC raised its position in shares of Oxford Lane Capital by 1,520.4% during the 2nd quarter. Jane Street Group LLC now owns 594,696 shares of the investment management company's stock worth $2,498,000 after acquiring an additional 557,996 shares in the last quarter. J.W. Cole Advisors Inc. boosted its holdings in shares of Oxford Lane Capital by 130.5% in the first quarter. J.W. Cole Advisors Inc. now owns 659,970 shares of the investment management company's stock valued at $3,115,000 after acquiring an additional 373,710 shares during the period. LPL Financial LLC increased its stake in Oxford Lane Capital by 41.0% in the 1st quarter. LPL Financial LLC now owns 1,264,958 shares of the investment management company's stock valued at $5,971,000 after buying an additional 367,613 shares during the period. Finally, Border to Coast Pensions Partnership Ltd lifted its stake in shares of Oxford Lane Capital by 18.9% in the first quarter. Border to Coast Pensions Partnership Ltd now owns 2,200,000 shares of the investment management company's stock valued at $10,384,000 after purchasing an additional 350,000 shares during the period. Institutional investors and hedge funds 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.