Evoke Wealth LLC Takes Position in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

Evoke Wealth LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,089 shares of the company’s stock, valued at approximately $100,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Choreo LLC bought a new position in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth approximately $1,004,000. J.W. Cole Advisors Inc. boosted its position in XAI Octagon Floating Rate & Alternative Income Trust by 30.1% during the 4th quarter. J.W. Cole Advisors Inc. now owns 205,326 shares of the company’s stock valued at $1,363,000 after acquiring an additional 47,473 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at $244,000. Raymond James Financial Inc. bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at $226,000. Finally, Walkner Condon Financial Advisors LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at $215,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Down 0.4 %

Shares of NYSE XFLT opened at $6.01 on Thursday. The stock’s fifty day simple moving average is $6.44 and its two-hundred day simple moving average is $6.70. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $5.92 and a 12-month high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a $0.077 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 15.39%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is 112.64%.

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.