XAI Octagon Floating Rate & Alternative Income Trust (XFLT) To Go Ex-Dividend on March 16th

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) announced a monthly dividend on Monday, March 2nd. Shareholders of record on Monday, March 16th will be paid a dividend of 0.06 per share on Wednesday, April 1st. This represents a c) dividend on an annualized basis and a yield of 22.3%. The ex-dividend date is Monday, March 16th.

XAI Octagon Floating Rate & Alternative Income Trust Stock Down 2.3%

Shares of NYSE:XFLT traded down $0.08 during midday trading on Friday, reaching $3.24. The company’s stock had a trading volume of 424,485 shares, compared to its average volume of 722,969. The firm has a 50 day moving average price of $4.11 and a two-hundred day moving average price of $4.68. XAI Octagon Floating Rate & Alternative Income Trust has a fifty-two week low of $2.98 and a fifty-two week high of $6.20.

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

XAI Octagon Floating Rate & Alternative Income Trust Company 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.