XAI Octagon Floating Rate & Alternative Income Trust (XFLT) To Go Ex-Dividend on April 12th

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, April 1st, Wall Street Journal reports. Investors of record on Monday, April 15th will be paid a dividend of 0.085 per share on Wednesday, May 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 14.31%. The ex-dividend date of this dividend is Friday, April 12th.

XAI Octagon Floating Rate & Alternative Income Trust has raised its dividend payment by an average of 6.8% per year over the last three years and has increased 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 Stock Performance

Shares of NYSE:XFLT traded up $0.03 during mid-day trading on Wednesday, reaching $7.13. The stock had a trading volume of 318,638 shares, compared to its average volume of 339,032. The firm has a 50 day simple moving average of $7.22 and a two-hundred day simple moving average of $7.07. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.16 and a twelve month high of $7.76.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

Several hedge funds have recently bought and sold shares of XFLT. LPL Financial LLC grew its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 0.4% during the 3rd quarter. LPL Financial LLC now owns 329,900 shares of the company’s stock worth $2,293,000 after acquiring an additional 1,427 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in XAI Octagon Floating Rate & Alternative Income Trust by 8.9% during the first quarter. Commonwealth Equity Services LLC now owns 30,937 shares of the company’s stock worth $198,000 after purchasing an additional 2,527 shares during the period. Royal Bank of Canada boosted its position in XAI Octagon Floating Rate & Alternative Income Trust by 8.4% during the first quarter. Royal Bank of Canada now owns 39,634 shares of the company’s stock worth $335,000 after purchasing an additional 3,056 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 24.9% in the first quarter. Chicago Partners Investment Group LLC now owns 20,798 shares of the company’s stock valued at $158,000 after acquiring an additional 4,142 shares during the period. Finally, Raymond James & Associates boosted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 7.9% in the first quarter. Raymond James & Associates now owns 66,710 shares of the company’s stock valued at $565,000 after acquiring an additional 4,886 shares during the period.

About XAI Octagon Floating Rate & Alternative Income Trust

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.