Shaker Financial Services LLC Purchases Shares of 23,715 XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

Shaker Financial Services LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 23,715 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds have also recently made changes to their positions in XFLT. Guggenheim Capital LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at approximately $73,000. CreativeOne Wealth LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at approximately $71,000. Mariner LLC raised its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 3.2% during the fourth quarter. Mariner LLC now owns 158,964 shares of the company’s stock valued at $1,056,000 after buying an additional 4,979 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth $226,000. Finally, Landscape Capital Management L.L.C. bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $346,000.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 2.4 %

Shares of NYSE XFLT opened at $5.37 on Tuesday. The firm’s fifty day moving average is $5.99 and its two-hundred day moving average is $6.49. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $4.76 and a 52-week high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be given a $0.077 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 17.21%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is currently 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.