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:XFLTGet 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.

Further Reading

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

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