XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Stock Short Interest Drops 93.2%

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) saw a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 20,513 shares, a drop of 93.2% from the October 15th total of 300,347 shares. Based on an average daily volume of 143,574 shares, the days-to-cover ratio is currently 0.1 days.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE XFLT traded down $0.01 during midday trading on Wednesday, hitting $16.05. 65,808 shares of the company’s stock traded hands, compared to its average volume of 107,431. The firm has a fifty day moving average of $18.25 and a 200 day moving average of $18.35. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $14.92 and a 1 year high of $24.40.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Monday, November 16th will be issued a dividend of $0.2250 per share. This represents a $2.70 annualized dividend and a dividend yield of 16.8%. The ex-dividend date of this dividend is Monday, November 16th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is 528.74%.

Insider Transactions at XAI Octagon Floating Rate & Alternative Income Trust

In related news, VP John Spence bought 2,000 shares of the firm’s stock in a transaction on Wednesday, October 21st. The stock was acquired at an average cost of $17.07 per share, for a total transaction of $34,140.00. Following the purchase, the vice president owned 114,357 shares in the company, valued at approximately $1,952,073.99. This represents a 1.78% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

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

A hedge fund recently bought a new position in XAI Octagon Floating Rate & Alternative Income Trust stock. Sculptor Capital LP bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 15,686 shares of the company’s stock, valued at approximately $269,000.

About XAI Octagon Floating Rate & Alternative Income Trust

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) is a non-diversified, closed-end management investment company that seeks to provide investors with current income and, to a lesser extent, capital appreciation. The fund invests primarily in floating-rate credit instruments and other alternative income-producing assets. XFLT’s portfolio may include collateralized loan obligations (CLOs), including both debt and equity tranches, as well as senior secured loans and other below-investment-grade corporate credit.