XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Short Interest Update

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) saw a significant growth in short interest in May. As of May 15th, there was short interest totaling 61,721 shares, a growth of 301.8% from the April 30th total of 15,361 shares. Based on an average daily volume of 101,554 shares, the short-interest ratio is presently 0.6 days.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE XFLT traded up $0.16 on Friday, hitting $18.60. 68,809 shares of the company traded hands, compared to its average volume of 123,525. The business’s 50 day moving average price is $17.94 and its 200-day moving average price is $20.28. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $14.92 and a 52-week high of $29.30.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 1st. Investors of record on Friday, May 15th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, May 15th. This represents a c) annualized dividend and a yield of 14.5%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 574.71%.

Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Several institutional investors and hedge funds have recently bought and sold shares of XFLT. Sit Investment Associates Inc. lifted its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 112.4% during the fourth quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock valued at $26,244,000 after purchasing an additional 2,893,917 shares in the last quarter. Eagle Point Credit Management LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at approximately $10,033,000. North Ground Capital purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter valued at approximately $7,116,000. Pathstone Holdings LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the third quarter valued at approximately $6,286,000. Finally, Rivernorth Capital Management LLC purchased a new position 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.