Oxford Lane Capital (NASDAQ:OXLCN) Shares Down 0.3% – Should You Sell?

Oxford Lane Capital Corp. (NASDAQ:OXLCN)’s stock price dropped 0.3% during trading on Monday . The stock traded as low as $24.70 and last traded at $24.70. Approximately 6,436 shares traded hands during trading, an increase of 107% from the average daily volume of 3,105 shares. The stock had previously closed at $24.78.

Oxford Lane Capital Price Performance

The firm has a fifty day moving average of $24.75 and a 200-day moving average of $24.59.

Oxford Lane Capital Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Monday, November 16th will be given a $0.1484 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a c) annualized dividend and a yield of 7.2%.

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 shares of Oxford Lane Capital Corp. (NASDAQ:OXLCN) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 603,268 shares of the company’s stock, valued at approximately $14,659,000. Oxford Lane Capital comprises about 3.0% of Karpus Management Inc.’s portfolio, making the stock its 11th largest position.

About Oxford Lane Capital

Oxford Lane Capital Corp. (Nasdaq: OXLCN) is a closed-end management investment company that is structured to offer publicly traded notes on the Nasdaq Global Market. The firm’s principal investment objective is to provide investors with a high level of current income, with a secondary objective of capital appreciation. By issuing senior unsecured notes under the OXLCN ticker, Oxford Lane Capital seeks to deliver predictable cash distributions to noteholders through its diversified investment portfolio.

The company primarily allocates capital to senior secured loans and equity securities of privately held and thinly traded companies, as well as public small- and mid-cap issuers.