M&T Bank Corp Buys Shares of 42,933 XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

M&T Bank Corp bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 42,933 shares of the company’s stock, valued at approximately $254,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in XFLT. Jane Street Group LLC acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $237,000. Guggenheim Capital LLC acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $73,000. Raymond James Financial Inc. acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $226,000. Cresset Asset Management LLC acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $2,102,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth approximately $346,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Down 0.3%

Shares of NYSE:XFLT opened at $5.56 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $4.76 and a 52-week high of $7.16. The company has a 50 day moving average of $5.67 and a two-hundred day moving average of $5.98.

XAI Octagon Floating Rate & Alternative Income Trust Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, August 1st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.07 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 15.12%. The ex-dividend date of this dividend is Tuesday, July 15th. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is currently 108.05%.

XAI Octagon Floating Rate & Alternative Income Trust Profile

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.