XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Sees Large Increase in Short Interest

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totalling 167,500 shares, a growth of 23.4% from the July 15th total of 135,700 shares. Based on an average trading volume of 471,700 shares, the days-to-cover ratio is presently 0.4 days.

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

Large investors have recently modified their holdings of the stock. Private Advisor Group LLC raised its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 16.9% during the fourth quarter. Private Advisor Group LLC now owns 71,466 shares of the company’s stock worth $510,000 after purchasing an additional 10,356 shares during the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 47.9% during the fourth quarter. J.W. Cole Advisors Inc. now owns 23,123 shares of the company’s stock worth $165,000 after purchasing an additional 7,487 shares during the last quarter. Chicago Partners Investment Group LLC raised its position in XAI Octagon Floating Rate & Alternative Income Trust by 10.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 145,608 shares of the company’s stock worth $1,044,000 after acquiring an additional 13,633 shares in the last quarter. Great Valley Advisor Group Inc. purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth $330,000. Finally, Belpointe Asset Management LLC raised its position in XAI Octagon Floating Rate & Alternative Income Trust by 44.0% in the fourth quarter. Belpointe Asset Management LLC now owns 106,425 shares of the company’s stock worth $760,000 after acquiring an additional 32,530 shares in the last quarter.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of XAI Octagon Floating Rate & Alternative Income Trust stock remained flat at $6.86 during trading hours on Friday. The stock had a trading volume of 324,701 shares, compared to its average volume of 411,420. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.41 and a twelve month high of $7.76. The firm has a 50-day simple moving average of $7.05 and a 200-day simple moving average of $7.12.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a dividend yield of 14.87%. The ex-dividend date is Thursday, August 15th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is presently 117.24%.

About XAI Octagon Floating Rate & Alternative Income Trust

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.