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

Shares of Oxford Lane Capital Corp. (NASDAQ:OXLCN) dropped 0.3% on Wednesday . The stock traded as low as $24.73 and last traded at $24.7340. Approximately 2,868 shares traded hands during trading, a decline of 9% from the average daily volume of 3,160 shares. The stock had previously closed at $24.80.

Oxford Lane Capital Price Performance

The company’s 50-day moving average price is $24.79 and its two-hundred day moving average price is $24.56.

Oxford Lane Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Investors of record on Monday, August 17th will be issued a $0.1484 dividend. This represents a c) annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend is Monday, August 17th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Oxford Lane Capital stock. Karpus Management Inc. purchased a new position in Oxford Lane Capital Corp. (NASDAQ:OXLCN) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 603,268 shares of the company’s stock, valued at approximately $14,659,000. Oxford Lane Capital comprises 3.0% of Karpus Management Inc.’s investment portfolio, making the stock its 11th largest position.

Oxford Lane Capital Company Profile

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.