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

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

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

XFLT stock opened at $18.20 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a fifty-two week low of $14.92 and a fifty-two week high of $25.10. The business’s 50 day moving average price is $19.20 and its two-hundred day moving average price is $18.45.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, November 2nd. Investors of record on Thursday, October 15th will be given a dividend of $0.2250 per share. 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 payout ratio is currently 502.30%.

Institutional Investors Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Several hedge funds and other institutional investors have recently added to or reduced their stakes in XFLT. Sit Investment Associates Inc. increased its stake 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 purchasing an additional 2,893,917 shares in the last quarter. Sculptor Capital LP bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 1st quarter worth approximately $269,000. Alpine Global Management LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth approximately $129,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 2nd quarter worth approximately $51,000.

About XAI Octagon Floating Rate & Alternative Income Trust

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.