XAI Octagon Floating Rate & Alternative Income Trust $XFLT Shares Sold by Royal Bank of Canada

Royal Bank of Canada trimmed its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 81.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,751 shares of the company’s stock after selling 30,258 shares during the period. Royal Bank of Canada’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $116,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of XFLT. Bank of America Corp DE purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the 2nd quarter valued at approximately $34,000. Global Retirement Partners LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $40,000. Blue Bell Private Wealth Management LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $41,000. Accredited Investor Services LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth $58,000. Finally, Captrust Financial Advisors acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter worth $70,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of NYSE:XFLT opened at $19.20 on Monday. XAI Octagon Floating Rate & Alternative Income Trust has a 52-week low of $14.92 and a 52-week high of $28.50. The stock’s fifty day simple moving average is $18.33 and its 200-day simple moving average is $18.06.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be issued a $0.225 dividend. This represents a c) dividend on an annualized basis and a yield of 14.1%. The ex-dividend date is Monday, August 17th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is 531.03%.

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.