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

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) declared a monthly dividend on Monday, March 2nd. Investors of record on Monday, March 16th will be given a dividend of 0.06 per share on Wednesday, April 1st. This represents a c) annualized dividend and a yield of 22.3%. The ex-dividend date of this dividend is Monday, March 16th.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE XFLT traded down $0.08 on Friday, hitting $3.24. 424,485 shares of the company traded hands, compared to its average volume of 722,969. The business’s 50 day moving average price is $4.11 and its 200-day moving average price is $4.68. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $2.98 and a 52-week high of $6.20.

Shares of XAI Octagon Floating Rate & Alternative Income Trust are going to reverse split before the market opens on Monday, March 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 22nd.

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.