XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Short Interest Up 76.1% in June

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT – Get Free Report) saw a large increase in short interest in the month of June. As of June 15th, there was short interest totaling 25,104 shares, an increase of 76.1% from the May 31st total of 14,256 shares. Based on an average daily volume of 75,221 shares, the days-to-cover ratio is presently 0.3 days.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

XFLT stock opened at $17.62 on Thursday. The stock’s 50 day moving average is $18.28 and its two-hundred day moving average is $19.38. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $14.92 and a 52-week high of $28.60.

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XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a c) annualized dividend and a yield of 15.3%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is currently 559.77%.

Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

A number of hedge funds have recently added to or reduced their stakes in XFLT. Sit Investment Associates Inc. grew its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 112.4% during the 4th quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock valued at $26,244,000 after buying an additional 2,893,917 shares during the last quarter. Eagle Point Credit Management LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth approximately $10,033,000. North Ground Capital acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth approximately $7,116,000. Pathstone Holdings LLC bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the 3rd quarter valued at $6,286,000. Finally, Matisse Capital increased its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 250.4% during the 4th quarter. Matisse Capital now owns 920,000 shares of the company’s stock valued at $4,416,000 after purchasing an additional 657,473 shares during the period.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

(Get Free Report)

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.

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