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

Sit Investment Associates Inc. boosted its holdings in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 112.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,467,565 shares of the company’s stock after acquiring 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 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter worth approximately $34,000. Global Retirement Partners LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at $40,000. Blue Bell Private Wealth Management LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at $41,000. Per Stirling Capital Management LLC. bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the 3rd quarter valued at $56,000. Finally, Amplius Wealth Advisors LLC bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter valued at $54,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 0.5%

XFLT opened at $17.23 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $14.92 and a 1 year high of $28.60. The firm’s fifty day moving average price is $18.32 and its two-hundred day moving average price is $19.73.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be issued a dividend of $0.225 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 15.7%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 600.00%.

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.