Bulldog Investors LLP Cuts Stake in XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Bulldog Investors LLP lessened its position in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 63.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 186,930 shares of the company’s stock after selling 321,433 shares during the period. Bulldog Investors LLP’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $3,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Alpine Global Management LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth about $129,000. Sit Investment Associates Inc. increased its position in XAI Octagon Floating Rate & Alternative Income Trust by 112.4% during the 4th quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock worth $26,244,000 after purchasing an additional 2,893,917 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $68,000. XTX Topco Ltd purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $230,000. Finally, Rivernorth Capital Management LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $4,070,000.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XFLT opened at $17.42 on Tuesday. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $14.92 and a 12 month high of $28.50. The business has a 50 day simple moving average of $18.05 and a 200-day simple moving average of $18.88.

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. Shareholders of record on Wednesday, July 15th will be given a $0.225 dividend. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 15.5%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 545.98%.

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.