XAI Octagon Floating Rate & Alternative Income Trust Stock Scheduled to Reverse Split on Monday, March 23rd (NYSE:XFLT)

Shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) are going to reverse split on Monday, March 23rd. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 22nd.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XFLT stock opened at $3.29 on Wednesday. The firm has a fifty day moving average price of $4.20 and a 200 day moving average price of $4.72. XAI Octagon Floating Rate & Alternative Income Trust has a fifty-two week low of $2.98 and a fifty-two week high of $6.23.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a dividend of $0.06 per share. The ex-dividend date is Monday, March 16th. This represents a c) annualized dividend and a yield of 21.9%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is 103.45%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

Several hedge funds have recently made changes to their positions in XFLT. Alpine Global Management LLC bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at about $129,000. Sit Investment Associates Inc. grew its position in XAI Octagon Floating Rate & Alternative Income Trust by 112.4% in the fourth quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock worth $26,244,000 after acquiring an additional 2,893,917 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth approximately $68,000. XTX Topco Ltd bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth approximately $230,000. Finally, Rivernorth Capital Management LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at approximately $4,070,000.

About XAI Octagon Floating Rate & Alternative Income Trust

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.