XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Stock Short Interest Report for September

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) saw a significant growth in short interest in September. As of September 30th, there was short interest totaling 41,153 shares, a growth of 61.6% from the September 15th total of 25,460 shares. Based on an average daily volume of 81,650 shares, the days-to-cover ratio is currently 0.5 days.

XAI Octagon Floating Rate & Alternative Income Trust Stock Down 1.5%

Shares of NYSE:XFLT traded down $0.28 during mid-day trading on Friday, hitting $18.20. 90,859 shares of the company traded hands, compared to its average volume of 105,651. The stock has a 50-day moving average price of $19.20 and a two-hundred day moving average price of $18.45. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $14.92 and a 12-month high of $25.10.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Thursday, October 15th will be paid a $0.2250 dividend. The ex-dividend date is Thursday, October 15th. This represents a $2.70 annualized dividend and a dividend yield of 14.8%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 502.30%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Sit Investment Associates Inc. increased its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 112.4% during the fourth quarter. Sit Investment Associates Inc. now owns 5,467,565 shares of the company’s stock valued at $26,244,000 after acquiring an additional 2,893,917 shares during the last quarter. Sculptor Capital LP purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 1st quarter valued at $269,000. Alpine Global Management LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth $129,000. Finally, CoreCap Advisors LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter worth $51,000.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust is a closed-end management investment company listed on the New York Stock Exchange under the symbol XFLT. The fund seeks to provide current income and, to a lesser extent, capital appreciation by investing in a portfolio of floating-rate and alternative credit instruments.

The trust primarily invests in collateralized loan obligation (CLO) securities, including CLO debt and equity tranches, as well as senior secured loans and other floating-rate debt securities.