XAI Octagon Floating Rate & Alternative Income Trust (XFLT) to Issue Monthly Dividend of $0.09 on March 1st

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLTGet Free Report) announced a monthly dividend on Thursday, February 1st, NASDAQ reports. Shareholders of record on Thursday, February 15th will be paid a dividend of 0.085 per share on Friday, March 1st. This represents a $1.02 dividend on an annualized basis and a yield of 13.47%. The ex-dividend date is Wednesday, February 14th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment by an average of 6.8% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. XAI Octagon Floating Rate & Alternative Income Trust has a payout ratio of 87.2% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XAI Octagon Floating Rate & Alternative Income Trust stock opened at $7.57 on Monday. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.00 and a twelve month high of $7.76. The firm has a 50 day moving average price of $7.21 and a 200-day moving average price of $7.00.

Insider Activity

In other XAI Octagon Floating Rate & Alternative Income Trust news, insider John Yogi Spence acquired 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 5th. The stock was bought at an average cost of $6.89 per share, with a total value of $41,340.00. Following the acquisition, the insider now owns 23,684 shares in the company, valued at $163,182.76. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of XFLT. Lido Advisors LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 1st quarter worth approximately $1,317,000. PNC Financial Services Group Inc. raised its stake in XAI Octagon Floating Rate & Alternative Income Trust by 2,308.6% in the first quarter. PNC Financial Services Group Inc. now owns 88,396 shares of the company’s stock valued at $748,000 after purchasing an additional 84,726 shares in the last quarter. Susquehanna International Group LLP bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at approximately $369,000. UBS Group AG grew its position in XAI Octagon Floating Rate & Alternative Income Trust by 23.9% during the second quarter. UBS Group AG now owns 209,312 shares of the company’s stock valued at $1,461,000 after acquiring an additional 40,377 shares during the last quarter. Finally, Baird Financial Group Inc. lifted its position in XAI Octagon Floating Rate & Alternative Income Trust by 48.4% in the fourth quarter. Baird Financial Group Inc. now owns 103,999 shares of the company’s stock valued at $657,000 after purchasing an additional 33,909 shares during the last quarter.

About XAI Octagon Floating Rate & Alternative Income Trust

(Get Free Report)

XAI Octagon Floating Rate & Alternative Income Term Trust invests in a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within the private markets. Under normal market conditions, the Trust will invest at least 80% of managed assets in senior secured loans, CLO debt and CLO equity.

The Trust seeks attractive total return with an emphasis on income generation across multiple stages of the credit cycle.

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Dividend History for XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

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