XAI Octagon Floating Rate & Alternative Income Trust (XFLT) To Go Ex-Dividend on March 16th

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, March 2nd. Stockholders of record on Monday, March 16th will be given a dividend of 0.06 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a dividend yield of 22.3%. The ex-dividend date is Monday, March 16th.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 2.3%

Shares of NYSE XFLT traded down $0.08 during mid-day trading on Friday, reaching $3.24. 424,485 shares of the company’s stock were exchanged, compared to its average volume of 722,969. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $2.98 and a twelve month high of $6.20. The business has a fifty day simple moving average of $4.11 and a 200 day simple moving average of $4.68.

XAI Octagon Floating Rate & Alternative Income Trust’s stock is set to reverse split on Monday, March 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 22nd.

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.