Oxford Lane Capital Corp. (NASDAQ:OXLCI) Sees Large Drop in Short Interest

Oxford Lane Capital Corp. (NASDAQ:OXLCI) was the target of a significant drop in short interest in March. As of March 13th, there was short interest totaling 1,696 shares, a drop of 38.1% from the February 26th total of 2,742 shares. Based on an average daily volume of 6,216 shares, the days-to-cover ratio is currently 0.3 days.

Oxford Lane Capital Trading Up 0.4%

Oxford Lane Capital stock traded up $0.10 during mid-day trading on Friday, hitting $25.35. 1,032 shares of the company traded hands, compared to its average volume of 8,401. Oxford Lane Capital has a one year low of $24.93 and a one year high of $26.25. The stock has a fifty day moving average price of $25.65 and a 200-day moving average price of $25.69.

Oxford Lane Capital Dividend Announcement

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

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Oxford Lane Capital stock. Karpus Management Inc. purchased a new stake in shares of Oxford Lane Capital Corp. (NASDAQ:OXLCI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 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.