Sit Investment Associates Inc. Has $26.24 Million Position in XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Sit Investment Associates Inc. lifted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 112.4% during the fourth quarter, Holdings Channel reports. The fund owned 5,467,565 shares of the company’s stock after buying an additional 2,893,917 shares during the quarter. Sit Investment Associates Inc.’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $26,244,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of XFLT. Bank of America Corp DE acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth $34,000. Global Retirement Partners LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $40,000. Blue Bell Private Wealth Management LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $41,000. Amplius Wealth Advisors LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $54,000. Finally, Highland Financial Advisors LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $56,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

XFLT opened at $17.94 on Friday. The company’s fifty day moving average price is $18.27 and its two-hundred day moving average price is $19.93. XAI Octagon Floating Rate & Alternative Income Trust has a 1-year low of $14.92 and a 1-year high of $28.75.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.225 dividend. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 15.0%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 600.00%.

XAI Octagon Floating Rate & Alternative Income Trust Profile

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.