Oxford Lane Capital (NASDAQ:OXLC) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Oxford Lane Capital (NASDAQ:OXLC) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

Separately, BidaskClub upgraded Zillow Group from a buy rating to a strong-buy rating in a research report on Tuesday, July 2nd.

Shares of NASDAQ OXLC traded up $0.08 during midday trading on Wednesday, hitting $10.58. The stock had a trading volume of 680,100 shares, compared to its average volume of 483,343. The company’s 50 day simple moving average is $10.22. Oxford Lane Capital has a 1 year low of $7.35 and a 1 year high of $11.50.

The company also recently announced a monthly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 23rd will be given a $0.135 dividend. The ex-dividend date is Thursday, August 22nd. This represents a $1.62 annualized dividend and a dividend yield of 15.31%.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley lifted its position in Oxford Lane Capital by 11.0% during the third quarter. Morgan Stanley now owns 185,537 shares of the investment management company’s stock worth $1,966,000 after buying an additional 18,388 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in Oxford Lane Capital by 6.7% during the first quarter. Cetera Advisor Networks LLC now owns 131,351 shares of the investment management company’s stock worth $1,292,000 after buying an additional 8,296 shares in the last quarter. Wiley BROS. Aintree Capital LLC lifted its position in Oxford Lane Capital by 262.9% during the second quarter. Wiley BROS. Aintree Capital LLC now owns 101,766 shares of the investment management company’s stock worth $1,026,000 after buying an additional 73,727 shares in the last quarter. LPL Financial LLC lifted its position in Oxford Lane Capital by 36.3% during the fourth quarter. LPL Financial LLC now owns 56,670 shares of the investment management company’s stock worth $550,000 after buying an additional 15,100 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its position in Oxford Lane Capital by 46.7% during the fourth quarter. Commonwealth Equity Services LLC now owns 54,971 shares of the investment management company’s stock worth $533,000 after buying an additional 17,487 shares in the last quarter.

About Oxford Lane Capital

Oxford Lane Capital Corp. is a close ended fund launched and managed by Oxford Lane Management LLC. It invests in fixed income securities. The fund primarily invests in securitization vehicles which in turn invest in senior secured loans made to companies whose debt is rated below investment grade or is unrated.

See Also: Rule of 72

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