Cresset Asset Management LLC Invests $2.10 Million in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

Cresset Asset Management LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the 4th quarter, Holdings Channel reports. The institutional investor bought 316,564 shares of the company’s stock, valued at approximately $2,102,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jane Street Group LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at about $237,000. Triumph Capital Management grew its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 2.4% during the 4th quarter. Triumph Capital Management now owns 82,862 shares of the company’s stock valued at $550,000 after buying an additional 1,907 shares in the last quarter. Virtus ETF Advisers LLC increased its stake in XAI Octagon Floating Rate & Alternative Income Trust by 16.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 167,042 shares of the company’s stock worth $1,109,000 after acquiring an additional 23,167 shares during the last quarter. Shaker Financial Services LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $157,000. Finally, Guggenheim Capital LLC bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at approximately $73,000.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XFLT stock opened at $5.70 on Friday. The firm has a fifty day moving average price of $5.78 and a 200 day moving average price of $6.38. XAI Octagon Floating Rate & Alternative Income Trust has a fifty-two week low of $4.76 and a fifty-two week high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.077 dividend. This represents a $0.92 annualized dividend and a dividend yield of 16.21%. The ex-dividend date is Thursday, May 15th. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 111.49%.

XAI Octagon Floating Rate & Alternative Income Trust 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.