XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Sees Significant Decline in Short Interest

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a large drop in short interest during the month of February. As of February 15th, there was short interest totalling 41,700 shares, a drop of 50.9% from the January 31st total of 85,000 shares. Based on an average trading volume of 735,600 shares, the days-to-cover ratio is presently 0.1 days.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 0.7 %

NYSE:XFLT traded up $0.05 during trading hours on Friday, hitting $6.39. The stock had a trading volume of 531,939 shares, compared to its average volume of 634,896. The business’s 50 day moving average is $6.55 and its 200-day moving average is $6.76. XAI Octagon Floating Rate & Alternative Income Trust has a one year low of $6.29 and a one year high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 3rd. Investors of record on Tuesday, February 18th will be given a $0.077 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 14.47%. The ex-dividend date of this dividend is Tuesday, February 18th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is currently 113.79%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

Hedge funds have recently added to or reduced their stakes in the business. Orion Portfolio Solutions LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth about $68,000. CreativeOne Wealth LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at approximately $71,000. Guggenheim Capital LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $73,000. Atria Wealth Solutions Inc. acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $86,000. Finally, Firethorn Wealth Partners LLC acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $98,000.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

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.