XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Short Interest Update

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) saw a large increase in short interest in the month of May. As of May 15th, there was short interest totaling 61,721 shares, an increase of 301.8% from the April 30th total of 15,361 shares. Based on an average daily volume of 101,554 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

A number of large investors have recently modified their holdings of XFLT. Sit Investment Associates Inc. raised its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 112.4% in the 4th quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock worth $26,244,000 after purchasing an additional 2,893,917 shares during the period. Eagle Point Credit Management LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth about $10,033,000. North Ground Capital purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth about $7,116,000. Pathstone Holdings LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 3rd quarter valued at about $6,286,000. Finally, Rivernorth Capital Management LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at about $4,070,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

XAI Octagon Floating Rate & Alternative Income Trust stock opened at $18.60 on Friday. The stock’s 50-day moving average is $17.94 and its 200-day moving average is $20.28. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $14.92 and a 12 month high of $29.30.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 1st. Stockholders of record on Friday, May 15th will be issued a $0.225 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 14.5%. The ex-dividend date is Friday, May 15th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is 574.71%.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

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.