Redmont Wealth Advisors LLC Takes $219,000 Position in Apollo Tactical Income Fund Inc. (NYSE:AIF)

Redmont Wealth Advisors LLC purchased a new stake in shares of Apollo Tactical Income Fund Inc. (NYSE:AIF) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 15,707 shares of the company’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also modified their holdings of AIF. Rivernorth Capital Management LLC lifted its stake in shares of Apollo Tactical Income Fund by 247.4% in the 1st quarter. Rivernorth Capital Management LLC now owns 362,673 shares of the company’s stock valued at $5,208,000 after purchasing an additional 258,268 shares during the last quarter. Advisor Partners II LLC acquired a new stake in shares of Apollo Tactical Income Fund in the 3rd quarter valued at $3,961,000. Invesco Ltd. lifted its stake in shares of Apollo Tactical Income Fund by 7.9% in the 3rd quarter. Invesco Ltd. now owns 188,807 shares of the company’s stock valued at $2,524,000 after purchasing an additional 13,886 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Apollo Tactical Income Fund by 1.3% in the 4th quarter. Bank of America Corp DE now owns 167,021 shares of the company’s stock valued at $2,024,000 after purchasing an additional 2,176 shares during the last quarter. Finally, LPL Financial LLC lifted its stake in shares of Apollo Tactical Income Fund by 2.6% in the 1st quarter. LPL Financial LLC now owns 130,568 shares of the company’s stock valued at $1,582,000 after purchasing an additional 3,256 shares during the last quarter.

Apollo Tactical Income Fund Stock Down 0.1 %

Shares of AIF stock traded down $0.01 on Friday, hitting $14.39. The company’s stock had a trading volume of 96,591 shares, compared to its average volume of 142,143. Apollo Tactical Income Fund Inc. has a fifty-two week low of $11.95 and a fifty-two week high of $15.45. The firm’s fifty day moving average price is $14.63 and its 200-day moving average price is $13.89.

Apollo Tactical Income Fund Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Tuesday, April 23rd will be given a dividend of $0.144 per share. This is a positive change from Apollo Tactical Income Fund’s previous monthly dividend of $0.14. The ex-dividend date of this dividend is Monday, April 22nd. This represents a $1.73 dividend on an annualized basis and a yield of 12.01%.

Insider Transactions at Apollo Tactical Income Fund

In related news, Director Barry J. Cohen sold 7,882 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $15.10, for a total value of $119,018.20. Following the sale, the director now owns 6,000 shares of the company’s stock, valued at $90,600. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Apollo Tactical Income Fund Profile

Apollo Tactical Income Fund Inc is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC. The fund invests in fixed income markets. It primarily invests in senior secured loans including floating rate senior loans, high yield corporate bonds, and other credit instruments of varying maturities made to companies whose debt is typically rated below investment grade.