Apollon Wealth Management LLC Boosts Stock Holdings in XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Apollon Wealth Management LLC grew its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 84.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 46,312 shares of the company’s stock after buying an additional 21,205 shares during the period. Apollon Wealth Management LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in XFLT. Sigma Planning Corp acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust in the first quarter valued at $160,000. Envestnet Asset Management Inc. purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 1st quarter worth about $4,243,000. M&T Bank Corp purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 1st quarter worth about $254,000. LPL Financial LLC lifted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 2.5% in the 1st quarter. LPL Financial LLC now owns 357,103 shares of the company’s stock valued at $2,110,000 after purchasing an additional 8,703 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 347.6% during the 1st quarter. Invesco Ltd. now owns 114,668 shares of the company’s stock worth $678,000 after purchasing an additional 89,048 shares during the period.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XFLT opened at $4.91 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $4.76 and a 1 year high of $7.16. The firm has a 50 day moving average price of $5.40 and a 200 day moving average price of $5.54.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be given a $0.07 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a c) annualized dividend and a dividend yield of 17.1%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 102.30%.

Insider Activity at XAI Octagon Floating Rate & Alternative Income Trust

In related news, insider Scott C. Jones sold 13,009 shares of XAI Octagon Floating Rate & Alternative Income Trust stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $5.62, for a total transaction of $73,110.58. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

About XAI Octagon Floating Rate & Alternative Income Trust

XAI Octagon Floating Rate & Alternative Income Term Trust invests in a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within the private markets. Under normal market conditions, the Trust will invest at least 80% of managed assets in senior secured loans, CLO debt and CLO equity.

The Trust seeks attractive total return with an emphasis on income generation across multiple stages of the credit cycle.