Key Points
- VP John Yogi Spence bought 5,000 shares of XAI Octagon Floating Rate & Alternative Income Trust at an average price of $3.90 on Feb. 19, increasing his stake to 561,792 shares (a 0.90% ownership increase) and disclosed via an SEC filing.
- The fund declared a monthly $0.06 dividend (paid Mar. 2 to holders of record Feb. 17), implying an 18.8% yield and a payout ratio of about 104.6%, indicating distributions exceed reported earnings.
- XFLT is trading around $3.84, near its 52-week low of $3.81 and below its 50-day ($4.50) and 200-day ($4.92) moving averages, signaling recent weakness in the share price.
XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT - Get Free Report) VP John Yogi Spence purchased 5,000 shares of the stock in a transaction that occurred on Thursday, February 19th. The stock was bought at an average cost of $3.90 per share, with a total value of $19,500.00. Following the acquisition, the vice president owned 561,792 shares of the company's stock, valued at $2,190,988.80. This represents a 0.90% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website.
XAI Octagon Floating Rate & Alternative Income Trust Price Performance
XFLT stock traded down $0.06 during midday trading on Friday, reaching $3.84. The company's stock had a trading volume of 394,754 shares, compared to its average volume of 552,807. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $3.81 and a 52 week high of $6.45. The business's 50-day simple moving average is $4.50 and its 200-day simple moving average is $4.92.
XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement
The business also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Tuesday, February 17th will be issued a $0.06 dividend. This represents a c) annualized dividend and a dividend yield of 18.8%. The ex-dividend date is Tuesday, February 17th. XAI Octagon Floating Rate & Alternative Income Trust's dividend payout ratio is 104.60%.
Institutional Investors Weigh In On XAI Octagon Floating Rate & Alternative Income Trust
Several hedge funds and other institutional investors have recently added to or reduced their stakes in XFLT. Allworth Financial LP raised its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 1,689.2% during the 2nd quarter. Allworth Financial LP now owns 5,296 shares of the company's stock worth $30,000 after purchasing an additional 5,000 shares in the last quarter. Bank of America Corp DE acquired 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 bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at about $40,000. Blue Bell Private Wealth Management LLC bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at about $41,000. Finally, Halbert Hargrove Global Advisors LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 3rd quarter worth about $53,000.
XAI Octagon Floating Rate & Alternative Income Trust Company Profile
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
