Key Points
- Insider buying: VP John Spence purchased 2,000 XFLT shares at an average price of $17.07, increasing his position by 1.78% to 114,357 shares.
- High dividend yield: XFLT declared a monthly dividend of $0.225 per share, or $2.70 annualized, representing a 16.0% yield; its payout ratio is 502.30%.
- Market position: Shares opened at $16.91, below their 50-day and 200-day moving averages, while the trust invests primarily in CLOs, senior secured loans, and other floating-rate credit instruments.
XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT - Get Free Report) VP John Spence acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, October 21st. The shares were bought at an average cost of $17.07 per share, with a total value of $34,140.00. Following the transaction, the vice president directly owned 114,357 shares in the company, valued at $1,952,073.99. This trade represents a 1.78% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link.
XAI Octagon Floating Rate & Alternative Income Trust Price Performance
Shares of NYSE XFLT opened at $16.91 on Friday. The business's 50 day moving average is $19.04 and its two-hundred day moving average is $18.47. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $14.92 and a 52-week high of $25.10.
XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement
The company also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.2250 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 16.0%. XAI Octagon Floating Rate & Alternative Income Trust's payout ratio is presently 502.30%.
Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust
A hedge fund recently bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust stock. CoreCap Advisors LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund bought 2,916 shares of the company's stock, valued at approximately $51,000.
About XAI Octagon Floating Rate & Alternative Income Trust
(
Get Free Report)
XAI Octagon Floating Rate & Alternative Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol XFLT. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing in a portfolio of floating-rate and alternative credit instruments.
The trust primarily invests in collateralized loan obligation (CLO) securities, including CLO debt and equity tranches, as well as senior secured loans and other floating-rate debt securities.
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