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

Oxford Lane Capital Corp. (NASDAQ:OXLC) announced a monthly dividend on Friday, October 24th. Shareholders of record on Tuesday, March 17th will be given a dividend of 0.40 per share by the investment management company on Tuesday, March 31st. This represents a c) dividend on an annualized basis and a yield of 58.5%. The ex-dividend date is Tuesday, March 17th.

Oxford Lane Capital has a dividend payout ratio of 463.6% 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 Down 4.1%

NASDAQ:OXLC opened at $8.20 on Friday. Oxford Lane Capital has a 52 week low of $8.15 and a 52 week high of $24.90. The company has a fifty day simple moving average of $11.49 and a two-hundred day simple moving average of $14.22. The company has a market cap of $743.22 million, a price-to-earnings ratio of 1.26 and a beta of 0.78.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Camelot Portfolios LLC acquired a new stake in Oxford Lane Capital in the 4th quarter valued at about $29,000. Cary Street Partners Investment Advisory LLC purchased a new position in shares of Oxford Lane Capital in the 2nd quarter valued at about $32,000. Sound Income Strategies LLC acquired a new position in shares of Oxford Lane Capital during the fourth quarter worth about $37,000. WPG Advisers LLC increased its stake in shares of Oxford Lane Capital by 87.5% during the third quarter. WPG Advisers LLC now owns 2,620 shares of the investment management company’s stock worth $44,000 after buying an additional 1,223 shares during the period. Finally, Barnes Wealth Management Group Inc purchased a new stake in shares of Oxford Lane Capital during the second quarter worth approximately $51,000. 6.74% of the stock is owned by institutional investors and hedge funds.

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.