XAI Octagon Floating Rate & Alternative Income Trust Stock Scheduled to Reverse Split on Monday, March 23rd (NYSE:XFLT)

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)’s stock is going to reverse split on the morning of Monday, March 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 22nd.

XAI Octagon Floating Rate & Alternative Income Trust Trading Down 1.4%

XFLT opened at $3.10 on Thursday. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $2.98 and a 12 month high of $6.08. The business’s 50-day moving average price is $4.02 and its 200-day moving average price is $4.63.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a yield of 23.3%. The ex-dividend date is Monday, March 16th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is presently 131.03%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

A number of institutional investors have recently made changes to their positions in the stock. Sit Investment Associates Inc. increased its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 112.4% in the fourth 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. Eagle Point Credit Management LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at $10,033,000. North Ground Capital bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth $7,116,000. Pathstone Holdings LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 3rd quarter worth $6,286,000. Finally, Rivernorth Capital Management LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at about $4,070,000.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) is a closed-end management investment company that seeks to provide current income by investing primarily in floating-rate senior secured debt and credit-related securities. The fund’s portfolio is constructed to offer exposure to corporate floating-rate loans, collateralized loan obligations (CLOs) and other structured credit instruments, with the goal of generating attractive risk-adjusted yields across changing interest-rate environments.

Advised by XAI Asset Management, LLC and sub-advised by Octagon Credit Investors, the trust combines the credit selection capabilities of both firms to identify opportunities in North American corporate credit markets.