Short Interest in Oxford Lane Capital Corp. (NASDAQ:OXLCI) Drops By 42.1%

Oxford Lane Capital Corp. (NASDAQ:OXLCI) saw a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 8,095 shares, a decline of 42.1% from the June 15th total of 13,985 shares. Based on an average daily trading volume, of 3,669 shares, the days-to-cover ratio is presently 2.2 days.

Hedge Funds Weigh In On Oxford Lane Capital

A hedge fund recently bought a new stake in Oxford Lane Capital stock. Karpus Management Inc. purchased a new position in Oxford Lane Capital Corp. (NASDAQ:OXLCI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 150,975 shares of the company’s stock, valued at approximately $3,871,000.

Oxford Lane Capital Price Performance

Shares of OXLCI stock traded up $0.04 during trading hours on Thursday, reaching $25.52. 1,078 shares of the stock were exchanged, compared to its average volume of 6,397. Oxford Lane Capital has a 12-month low of $25.10 and a 12-month high of $26.25. The company’s 50-day moving average price is $25.65 and its 200-day moving average price is $25.62.

Oxford Lane Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.5469 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $2.19 dividend on an annualized basis and a dividend yield of 8.6%.

Oxford Lane Capital Corp is a closed-end management investment company that seeks to generate current income by investing primarily in debt and debt-related securities of U.S. middle market companies. The firm focuses on senior secured loans, mezzanine debt, unitranche facilities and other structured credit instruments, and may also hold equity or equity-related investments such as collateralized loan obligation (CLO) equity tranches. By targeting cash-flow-oriented businesses, the company aims to deliver regular distributions to its shareholders.

Since its initial public offering in late 2012, Oxford Lane Capital has deployed capital across a diverse mix of industries, including manufacturing, business services and healthcare.