Short Interest in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Increases By 301.8%

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a significant increase in short interest in May. As of May 15th, there was short interest totaling 61,721 shares, an increase of 301.8% from the April 30th total of 15,361 shares. Based on an average daily trading volume, of 101,554 shares, the days-to-cover ratio is currently 0.6 days.

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

Shares of NYSE:XFLT traded up $0.06 during midday trading on Friday, hitting $18.50. 7,582 shares of the stock were exchanged, compared to its average volume of 122,884. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $14.92 and a twelve month high of $29.30. The company has a 50 day moving average price of $17.88 and a 200-day moving average price of $20.29.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, June 1st. Shareholders of record on Friday, May 15th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, May 15th. This represents a c) dividend on an annualized basis and a yield of 14.6%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is presently 574.71%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Royal Bank of Canada raised its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 128.7% during 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 during the last quarter. Invesco Ltd. lifted its stake in XAI Octagon Floating Rate & Alternative Income Trust by 40.8% in the 2nd quarter. Invesco Ltd. now owns 161,492 shares of the company’s stock valued at $912,000 after buying an additional 46,824 shares in the last quarter. Bank of America Corp DE acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter valued at $34,000. Balyasny Asset Management L.P. acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter valued at $1,201,000. Finally, Captrust Financial Advisors purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth $70,000.

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.