XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT) Announces $0.07 Monthly Dividend

XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLTGet Rating) announced a monthly dividend on Tuesday, April 5th, Wall Street Journal reports. Investors of record on Monday, April 18th will be given a dividend of 0.073 per share on Monday, May 2nd. This represents a $0.88 annualized dividend and a yield of 10.42%. The ex-dividend date is Thursday, April 14th.

XFLT opened at $8.41 on Tuesday. XAI Octagon Floating Rate & Alternative Income Term Trust has a 52-week low of $7.95 and a 52-week high of $9.85. The stock’s 50-day moving average is $8.81.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in XFLT. Morgan Stanley raised its holdings in XAI Octagon Floating Rate & Alternative Income Term Trust by 145.9% during the first quarter. Morgan Stanley now owns 49,089 shares of the company’s stock worth $445,000 after acquiring an additional 29,130 shares in the last quarter. Royal Bank of Canada raised its stake in XAI Octagon Floating Rate & Alternative Income Term Trust by 49.9% in the third quarter. Royal Bank of Canada now owns 30,387 shares of the company’s stock valued at $261,000 after buying an additional 10,120 shares during the period. Bank of America Corp DE raised its stake in XAI Octagon Floating Rate & Alternative Income Term Trust by 86.7% in the fourth quarter. Bank of America Corp DE now owns 5,600 shares of the company’s stock valued at $50,000 after buying an additional 2,600 shares during the period. LPL Financial LLC raised its stake in XAI Octagon Floating Rate & Alternative Income Term Trust by 5.7% in the fourth quarter. LPL Financial LLC now owns 295,516 shares of the company’s stock valued at $2,636,000 after buying an additional 15,823 shares during the period. Finally, Chicago Partners Investment Group LLC raised its stake in XAI Octagon Floating Rate & Alternative Income Term Trust by 25.9% in the fourth quarter. Chicago Partners Investment Group LLC now owns 16,656 shares of the company’s stock valued at $149,000 after buying an additional 3,423 shares during the period.

About XAI Octagon Floating Rate & Alternative Income Term Trust (Get Rating)

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.

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Dividend History for XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT)

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