Shares of Oxford Lane Capital Corp. (NASDAQ:OXLC) traded at a new 52-week high today of $7.91. This new high was reached on below average trading volume as 428,000 shares traded hands, while the average 30-day volume is approximately 874,000 shares.
Oxford Lane Capital Corp is a non-diversified closed-end management investment company. The fund's investment objective is to maximize its portfolio's risk-adjusted total return over its investment horizon. Its current focus is to seek that return by investing in equity and junior tranches of CLO(collateralized loan obligation) vehicles, which are collateralized primarily by a diverse portfolio of senior loans, and which generally have little to no exposure to real estate loans, mortgage loans or pools of consumer-based debt, such as credit card receivables or auto loans. Its investment strategy also includes investing in warehouse facilities, which are financing structures intended to aggregate senior loans that may be used to form the basis of a CLO vehicle.
In the past 52 weeks, Oxford Lane Capital Corp. share prices are bracketed by a low of $4.21 and a high of $7.91 and is now at $7.84, 86% above that low price.
Potential upside of 0.1% exists for Oxford Lane Capital Corp., based on a current level of $7.84 and analysts' average consensus price target of $7.85.
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