XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Trading Down 0.4% – Should You Sell?

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)’s share price dropped 0.4% during mid-day trading on Wednesday . The stock traded as low as $19.39 and last traded at $19.4250. 93,807 shares traded hands during mid-day trading, a decline of 11% from the average session volume of 105,681 shares. The stock had previously closed at $19.51.

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

The firm’s 50-day moving average price is $18.92 and its two-hundred day moving average price is $18.13.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.225 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 13.9%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is currently 517.24%.

Institutional Investors Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Large investors have recently modified their holdings of the stock. Sit Investment Associates Inc. lifted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 112.4% during the 4th quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock worth $26,244,000 after buying an additional 2,893,917 shares during the period. Landscape Capital Management L.L.C. raised its stake in XAI Octagon Floating Rate & Alternative Income Trust by 90.9% during the fourth quarter. Landscape Capital Management L.L.C. now owns 512,317 shares of the company’s stock worth $2,459,000 after acquiring an additional 243,925 shares in the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at $1,118,000. Alpine Global Management LLC bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at $129,000. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 3.8% in the 4th quarter. J.W. Cole Advisors Inc. now owns 451,667 shares of the company’s stock worth $2,168,000 after purchasing an additional 16,327 shares during the last quarter.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) is a non-diversified, closed-end investment company focused on generating current income and, secondarily, capital appreciation. The trust invests in floating-rate and alternative credit assets rather than operating a traditional business or selling products and services.

Its portfolio may include collateralized loan obligations (CLOs), senior secured loans, and other floating-rate debt instruments, as well as below-investment-grade credit securities.