XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Announces $0.23 Monthly Dividend

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) declared a monthly dividend on Thursday, April 30th. Stockholders of record on Friday, May 15th will be paid a dividend of 0.225 per share on Monday, June 1st. This represents a c) dividend on an annualized basis and a dividend yield of 14.0%. The ex-dividend date is Friday, May 15th.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT traded up $0.01 during mid-day trading on Wednesday, reaching $19.25. 32,639 shares of the company’s stock were exchanged, compared to its average volume of 129,143. The business’s fifty day simple moving average is $17.27 and its 200-day simple moving average is $20.78. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $14.92 and a 52-week high of $29.30.

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

A number of hedge funds have recently modified their holdings of XFLT. Royal Bank of Canada grew its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 128.7% during the first quarter. Royal Bank of Canada now owns 47,831 shares of the company’s stock worth $282,000 after acquiring an additional 26,918 shares during the last quarter. Invesco Ltd. grew its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 40.8% during the second quarter. Invesco Ltd. now owns 161,492 shares of the company’s stock worth $912,000 after acquiring an additional 46,824 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth approximately $34,000. Balyasny Asset Management L.P. purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth approximately $1,201,000. Finally, Captrust Financial Advisors purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth approximately $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.