XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Sees Large Increase in Short Interest

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 25,104 shares, a growth of 76.1% from the May 31st total of 14,256 shares. Based on an average daily trading volume, of 75,221 shares, the days-to-cover ratio is presently 0.3 days.

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

Several large investors have recently made changes to their positions in XFLT. Evoke Wealth LLC boosted its stake in XAI Octagon Floating Rate & Alternative Income Trust by 16.4% during the 4th quarter. Evoke Wealth LLC now owns 17,568 shares of the company’s stock valued at $84,000 after purchasing an additional 2,479 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 21.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 17,000 shares of the company’s stock valued at $82,000 after acquiring an additional 3,000 shares during the period. Private Advisor Group LLC grew its stake in shares of 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 acquiring an additional 5,582 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter worth $34,000. Finally, Global Retirement Partners LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth $40,000.

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

Shares of XFLT opened at $17.84 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a one year low of $14.92 and a one year high of $28.60. The company’s fifty day moving average price is $18.27 and its 200 day moving average price is $19.33.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Wednesday, July 15th will be paid a $0.225 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) dividend on an annualized basis and a dividend yield of 15.1%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is presently 559.77%.

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.