Short Interest in Oxford Lane Capital Corp. (NASDAQ:OXLCN) Rises By 1,261.7%
by Danessa Lincoln · The Markets DailyOxford Lane Capital Corp. (NASDAQ:OXLCN – Get Free Report) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 2,492 shares, a growth of 1,261.7% from the February 26th total of 183 shares. Based on an average daily volume of 4,197 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 4,197 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Trading of Oxford Lane Capital
A hedge fund recently bought a new stake in Oxford Lane Capital stock. Karpus Management Inc. bought a new position in shares of Oxford Lane Capital Corp. (NASDAQ:OXLCN – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 603,268 shares of the company’s stock, valued at approximately $14,659,000. Oxford Lane Capital accounts for 3.0% of Karpus Management Inc.’s holdings, making the stock its 11th biggest holding.
Oxford Lane Capital Stock Up 0.1%
Shares of OXLCN traded up $0.03 during mid-day trading on Tuesday, hitting $24.30. The company’s stock had a trading volume of 1,495 shares, compared to its average volume of 3,891. Oxford Lane Capital has a 1-year low of $23.40 and a 1-year high of $24.78. The firm has a 50-day simple moving average of $24.47 and a 200 day simple moving average of $24.41.
Oxford Lane Capital Announces Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Friday, May 15th will be paid a dividend of $0.1484 per share. The ex-dividend date of this dividend is Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 7.3%.
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.