XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Short Interest Down 76.9% in May

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a significant drop in short interest during the month of May. As of May 29th, there was short interest totaling 14,256 shares, a drop of 76.9% from the May 14th total of 61,721 shares. Based on an average daily trading volume, of 70,246 shares, the days-to-cover ratio is currently 0.2 days.

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

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter valued at $34,000. Global Retirement Partners LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at $40,000. Blue Bell Private Wealth Management LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at $41,000. Amplius Wealth Advisors LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at $54,000. Finally, Highland Financial Advisors LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at $56,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

NYSE:XFLT traded up $0.09 during trading hours on Friday, reaching $17.97. The stock had a trading volume of 84,838 shares, compared to its average volume of 118,927. The stock has a 50 day simple moving average of $18.28 and a 200 day simple moving average of $19.92. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $14.92 and a 12-month high of $28.65.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be given a $0.225 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 15.0%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 600.00%.

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.