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

XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT – Get Rating) declared a monthly dividend on Wednesday, May 4th, Wall Street Journal reports. Shareholders of record on Monday, May 16th will be paid a dividend of 0.073 per share on Wednesday, June 1st. This represents a $0.88 dividend on an annualized basis and a yield of 10.33%. The ex-dividend date of this dividend is Friday, May 13th.

XAI Octagon Floating Rate & Alternative Income Term Trust has increased its dividend payment by an average of 1.9% per year over the last three years.

Shares of XAI Octagon Floating Rate & Alternative Income Term Trust stock opened at $8.48 on Thursday. XAI Octagon Floating Rate & Alternative Income Term Trust has a 12-month low of $8.06 and a 12-month high of $9.85. The firm’s 50 day simple moving average is $8.54 and its two-hundred day simple moving average is $8.88.

Institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 86.7% in the 4th quarter. Bank of America Corp DE now owns 5,600 shares of the company’s stock valued at $50,000 after acquiring an additional 2,600 shares during the last quarter. NewEdge Advisors LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the 4th quarter valued at $115,000. Chicago Partners Investment Group LLC boosted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 25.9% in the 4th quarter. Chicago Partners Investment Group LLC now owns 16,656 shares of the company’s stock valued at $149,000 after acquiring an additional 3,423 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 49.9% in the 3rd quarter. Royal Bank of Canada now owns 30,387 shares of the company’s stock valued at $261,000 after acquiring an additional 10,120 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 145.9% in the 1st quarter. Morgan Stanley now owns 49,089 shares of the company’s stock valued at $445,000 after acquiring an additional 29,130 shares during the last quarter.

XAI Octagon Floating Rate & Alternative Income Term Trust Company Profile (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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