John Yogi Spence Buys 2,000 Shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Stock

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) insider John Yogi Spence bought 2,000 shares of the firm’s stock in a transaction dated Thursday, December 19th. The shares were acquired at an average price of $6.50 per share, with a total value of $13,000.00. Following the purchase, the insider now directly owns 546,806 shares of the company’s stock, valued at approximately $3,554,239. This trade represents a 0.37 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE:XFLT opened at $6.62 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $6.29 and a 12-month high of $7.76. The stock’s 50 day simple moving average is $6.86 and its 200-day simple moving average is $6.93.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 30th. Shareholders of record on Monday, December 16th will be given a dividend of $0.077 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.92 dividend on an annualized basis and a yield of 13.96%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is currently 116.09%.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

Hedge funds have recently made changes to their positions in the company. Belpointe Asset Management LLC raised its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 32.3% during the second quarter. Belpointe Asset Management LLC now owns 613,571 shares of the company’s stock worth $4,326,000 after purchasing an additional 149,744 shares in the last quarter. Consolidated Portfolio Review Corp increased its position in XAI Octagon Floating Rate & Alternative Income Trust by 109.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 252,994 shares of the company’s stock worth $1,725,000 after purchasing an additional 132,481 shares during the period. J.W. Cole Advisors Inc. raised its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 85.2% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 157,853 shares of the company’s stock worth $1,077,000 after buying an additional 72,612 shares in the last quarter. Worth Asset Management LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 3rd quarter valued at approximately $231,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 19.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 201,545 shares of the company’s stock valued at $1,421,000 after buying an additional 33,330 shares in the last quarter.

About XAI Octagon Floating Rate & Alternative Income Trust

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.