Rivernorth Capital Management LLC Sells 463,251 Shares of XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Rivernorth Capital Management LLC cut its holdings in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 54.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 384,757 shares of the company’s stock after selling 463,251 shares during the period. Rivernorth Capital Management LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $6,610,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Royal Bank of Canada increased its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 128.7% in the 1st quarter. Royal Bank of Canada now owns 47,831 shares of the company’s stock worth $282,000 after purchasing an additional 26,918 shares in the last quarter. Invesco Ltd. grew its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 40.8% during the second quarter. Invesco Ltd. now owns 161,492 shares of the company’s stock valued at $912,000 after purchasing an additional 46,824 shares during the period. Bank of America Corp DE bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the second quarter valued at about $34,000. Balyasny Asset Management L.P. purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the second quarter worth about $1,201,000. Finally, Captrust Financial Advisors purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the second quarter worth about $70,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 1.9%

NYSE XFLT opened at $18.70 on Wednesday. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $14.92 and a 52 week high of $28.50. The stock’s 50-day moving average price is $17.89 and its 200-day moving average price is $18.63.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Wednesday, July 15th will be given a $0.225 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.4%. The ex-dividend date is Wednesday, July 15th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 545.98%.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) is a closed-end management investment company that seeks to provide current income by investing primarily in floating-rate senior secured debt and credit-related securities. The fund’s portfolio is constructed to offer exposure to corporate floating-rate loans, collateralized loan obligations (CLOs) and other structured credit instruments, with the goal of generating attractive risk-adjusted yields across changing interest-rate environments.

Advised by XAI Asset Management, LLC and sub-advised by Octagon Credit Investors, the trust combines the credit selection capabilities of both firms to identify opportunities in North American corporate credit markets.