XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Increases Dividend to $0.23 Per Share

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Wednesday, April 1st. Stockholders of record on Wednesday, April 15th will be given a dividend of 0.225 per share on Friday, May 1st. This represents a c) annualized dividend and a dividend yield of 15.3%. The ex-dividend date of this dividend is Wednesday, April 15th. This is a 275.0% increase from XAI Octagon Floating Rate & Alternative Income Trust’s previous monthly dividend of $0.06.

XAI Octagon Floating Rate & Alternative Income Trust Trading Up 0.1%

Shares of NYSE XFLT traded up $0.02 during midday trading on Monday, hitting $17.62. 105,193 shares of the stock traded hands, compared to its average volume of 141,308. XAI Octagon Floating Rate & Alternative Income Trust has a one year low of $14.92 and a one year high of $29.30. The business has a 50 day moving average price of $17.91 and a two-hundred day moving average price of $21.82.

Institutional Investors Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of XFLT. Bank of America Corp DE bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the second quarter valued at approximately $34,000. Global Retirement Partners LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at approximately $40,000. Blue Bell Private Wealth Management LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $41,000. Halbert Hargrove Global Advisors LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the third quarter worth $53,000. Finally, Amplius Wealth Advisors LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $54,000.

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.