XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) to Issue Monthly Dividend of $0.06

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Friday, January 2nd. Shareholders of record on Thursday, January 15th will be given a dividend of 0.06 per share on Friday, January 30th. This represents a c) dividend on an annualized basis and a yield of 15.4%. The ex-dividend date of this dividend is Thursday, January 15th.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 0.3%

Shares of XFLT traded down $0.02 during mid-day trading on Tuesday, reaching $4.69. The company had a trading volume of 81,790 shares, compared to its average volume of 386,774. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $4.41 and a twelve month high of $6.65. The company’s 50-day moving average is $4.67 and its 200-day moving average is $5.15.

Insider Activity

In other news, insider Lauren Kristen Law bought 20,000 shares of XAI Octagon Floating Rate & Alternative Income Trust stock in a transaction dated Friday, October 24th. The shares were bought at an average price of $5.01 per share, for a total transaction of $100,200.00. Following the purchase, the insider owned 20,000 shares of the company’s stock, valued at approximately $100,200. This trade represents a ? increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 33.3% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 14,000 shares of the company’s stock worth $74,000 after buying an additional 3,500 shares in the last quarter. Samalin Investment Counsel LLC raised its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 3.3% during the third quarter. Samalin Investment Counsel LLC now owns 109,624 shares of the company’s stock worth $581,000 after acquiring an additional 3,526 shares during the last quarter. Allworth Financial LP lifted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 1,689.2% during the second quarter. Allworth Financial LP now owns 5,296 shares of the company’s stock valued at $30,000 after acquiring an additional 5,000 shares during the period. Private Advisor Group LLC increased its position in XAI Octagon Floating Rate & Alternative Income Trust by 5.2% in the third quarter. Private Advisor Group LLC now owns 113,011 shares of the company’s stock worth $599,000 after purchasing an additional 5,582 shares during the period. Finally, Bank of America Corp DE bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter worth about $34,000.

About XAI Octagon Floating Rate & Alternative Income Trust

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.