Oxford Lane Capital (NASDAQ:OXLCI) Trading Up 0.1% – Still a Buy?

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLCI) were up 0.1% during mid-day trading on Thursday . The company traded as high as $25.68 and last traded at $25.64. 1,780 shares were traded during trading, a decline of 72% from the average daily volume of 6,310 shares. The stock had previously closed at $25.61.

Oxford Lane Capital Stock Down 0.1%

The stock’s 50 day moving average price is $25.60 and its 200 day moving average price is $25.61.

Oxford Lane Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be issued a $0.5469 dividend. This represents a $2.19 annualized dividend and a yield of 8.5%. The ex-dividend date is Tuesday, September 15th.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Oxford Lane Capital stock. Karpus Management Inc. bought a new position in Oxford Lane Capital Corp. (NASDAQ:OXLCI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 150,975 shares of the company’s stock, valued at approximately $3,871,000.

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.