Oxford Lane Capital Corp. Announces Monthly Dividend of $0.40 (NASDAQ:OXLC)

Oxford Lane Capital Corp. (NASDAQ:OXLC) declared a monthly dividend on Friday, October 24th. Stockholders of record on Friday, February 13th will be paid a dividend of 0.40 per share by the investment management company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 45.5%. The ex-dividend date of this dividend is Friday, February 13th.

Oxford Lane Capital has a payout ratio of 509.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Oxford Lane Capital Stock Up 2.0%

Shares of Oxford Lane Capital stock opened at $10.55 on Wednesday. The firm’s 50 day moving average price is $13.94 and its 200-day moving average price is $15.57. Oxford Lane Capital has a 52-week low of $10.26 and a 52-week high of $25.85. The company has a market cap of $956.13 million, a P/E ratio of 1.61 and a beta of 0.73.

Hedge Funds Weigh In On Oxford Lane Capital

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Transce3nd LLC grew its stake in shares of Oxford Lane Capital by 63.3% in the 2nd quarter. Transce3nd LLC now owns 415,326 shares of the investment management company’s stock valued at $1,744,000 after buying an additional 160,994 shares during the period. North Ground Capital purchased a new stake in shares of Oxford Lane Capital during the 3rd quarter valued at approximately $6,771,000. Cary Street Partners Financial LLC acquired a new position in Oxford Lane Capital in the second quarter valued at approximately $237,000. TT Capital Management LLC purchased a new position in Oxford Lane Capital in the second quarter worth approximately $198,000. Finally, GatePass Capital LLC acquired a new stake in Oxford Lane Capital during the second quarter worth $264,000. 6.74% of the stock is owned by hedge funds and other institutional investors.

About Oxford Lane Capital

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.