Rivernorth Capital Management LLC Reduces Holdings in XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Rivernorth Capital Management LLC lessened its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 54.6% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 384,757 shares of the company’s stock after selling 463,251 shares during the quarter. Rivernorth Capital Management LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $6,610,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of XFLT. Shaker Financial Services LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at about $881,000. Choreo LLC bought a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth $210,000. TrueMark Investments LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 4th quarter worth $385,000. Closed End Fund Advisors Inc. bought a new position in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter valued at $1,118,000. Finally, Sit Investment Associates Inc. lifted its stake in 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 worth $26,244,000 after purchasing an additional 2,893,917 shares during the last quarter.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 1.9%

XFLT stock opened at $18.70 on Wednesday. The firm’s fifty day moving average is $17.89 and its 200 day moving average is $18.63. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $14.92 and a 52 week high of $28.50.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, August 3rd. Investors of record on Wednesday, July 15th will be given a dividend of $0.225 per share. The ex-dividend date is Wednesday, July 15th. This represents a c) annualized dividend and a dividend yield of 14.4%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is currently 545.98%.

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.