Sax Wealth Advisors LLC Makes New $170,000 Investment in XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Sax Wealth Advisors LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the 4th quarter, Holdings Channel reports. The firm purchased 35,405 shares of the company’s stock, valued at approximately $170,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bank of America Corp DE bought a new position in XAI Octagon Floating Rate & Alternative Income Trust in the 2nd quarter valued at approximately $34,000. Halbert Hargrove Global Advisors LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the third quarter worth $53,000. Amplius Wealth Advisors LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at about $54,000. Per Stirling Capital Management LLC. acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the third quarter valued at about $56,000. Finally, Captrust Financial Advisors acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter valued at about $70,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT opened at $16.86 on Friday. The business has a 50-day moving average of $19.06 and a 200-day moving average of $22.58. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $14.92 and a 1 year high of $30.10.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $0.06 dividend. The ex-dividend date is Monday, March 16th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 611.49%.

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.