XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Stock Short Interest Rises 61.6%

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a significant growth in short interest in September. As of September 30th, there was short interest totaling 41,153 shares, a growth of 61.6% from the September 15th total of 25,460 shares. Based on an average daily volume of 81,650 shares, the days-to-cover ratio is currently 0.5 days.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 0.9%

Shares of NYSE XFLT traded down $0.17 during trading hours on Friday, hitting $18.32. 6,250 shares of the stock were exchanged, compared to its average volume of 105,223. The firm has a fifty day moving average price of $19.21 and a 200-day moving average price of $18.45. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $14.92 and a 12 month high of $25.10.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a $0.2250 dividend. This represents a $2.70 annualized dividend and a dividend yield of 14.7%. The ex-dividend date of this dividend is Thursday, October 15th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is presently 502.30%.

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

Several hedge funds have recently made changes to their positions in the company. Sit Investment Associates Inc. grew its stake in 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 valued at $26,244,000 after purchasing an additional 2,893,917 shares during the last quarter. Sculptor Capital LP acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the first quarter worth about $269,000. Alpine Global Management LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth about $129,000. Finally, CoreCap Advisors LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the second quarter valued at approximately $51,000.

About XAI Octagon Floating Rate & Alternative Income Trust

XAI Octagon Floating Rate & Alternative Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol XFLT. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing in a portfolio of floating-rate and alternative credit instruments.

The trust primarily invests in collateralized loan obligation (CLO) securities, including CLO debt and equity tranches, as well as senior secured loans and other floating-rate debt securities.