Oxford Lane Capital (NASDAQ:OXLC) Sees Large Volume Increase – Still a Buy?

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) saw unusually-strong trading volume on Monday . Approximately 1,756,108 shares traded hands during mid-day trading, an increase of 23% from the previous session’s volume of 1,429,992 shares.The stock last traded at $11.77 and had previously closed at $12.12.

Oxford Lane Capital Trading Down 5.1%

The stock’s 50 day moving average price is $14.45 and its 200 day moving average price is $15.96. The company has a market capitalization of $1.04 billion, a price-to-earnings ratio of 2.10 and a beta of 0.70.

Oxford Lane Capital (NASDAQ:OXLC) last announced its quarterly earnings results on Wednesday, November 5th. The investment management company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $2.25 by ($1.01). The business had revenue of $128.30 million for the quarter, compared to analysts’ expectations of $247.87 million.

Oxford Lane Capital Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 16th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 16th. This represents a c) annualized dividend and a dividend yield of 20.9%.

Hedge Funds Weigh In On Oxford Lane Capital

Several hedge funds have recently modified their holdings of OXLC. Integrated Wealth Concepts LLC lifted its position in shares of Oxford Lane Capital by 70.5% during the first quarter. Integrated Wealth Concepts LLC now owns 31,136 shares of the investment management company’s stock worth $147,000 after acquiring an additional 12,873 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of Oxford Lane Capital by 17.9% in the first quarter. NewEdge Advisors LLC now owns 29,326 shares of the investment management company’s stock worth $138,000 after buying an additional 4,462 shares during the period. Capital Investment Advisors LLC bought a new position in shares of Oxford Lane Capital in the second quarter worth approximately $45,000. Ameritas Advisory Services LLC bought a new position in shares of Oxford Lane Capital during the second quarter valued at about $28,000. Finally, Abel Hall LLC bought a new stake in shares of Oxford Lane Capital in the 2nd quarter worth approximately $84,000. Institutional investors own 6.74% of the company’s stock.

Oxford Lane Capital Company Profile

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.