XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Stock: Insider John Yogi Spence Acquires 2,000 Shares

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) VP John Spence bought 2,000 shares of the firm’s stock in a transaction on Wednesday, October 21st. The shares were purchased at an average cost of $17.07 per share, with a total value of $34,140.00. Following the transaction, the vice president directly owned 114,357 shares in the company, valued at approximately $1,952,073.99. This trade represents a 1.78% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

XAI Octagon Floating Rate & Alternative Income Trust Stock Down 0.7%

XAI Octagon Floating Rate & Alternative Income Trust stock traded down $0.12 during mid-day trading on Thursday, hitting $16.91. 39,513 shares of the stock were exchanged, compared to its average volume of 105,244. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $14.92 and a 12 month high of $25.10. The firm’s fifty day simple moving average is $19.09 and its two-hundred day simple moving average is $18.47.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be paid a dividend of $0.2250 per share. This represents a $2.70 dividend on an annualized basis and a yield of 16.0%. The ex-dividend date of this dividend is Thursday, October 15th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is currently 502.30%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

An institutional investor recently bought a new position in XAI Octagon Floating Rate & Alternative Income Trust stock. CoreCap Advisors LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 2,916 shares of the company’s stock, 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.