XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Insider Buys $13,000.00 in Stock

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) insider John Yogi Spence purchased 2,000 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were purchased at an average price of $6.50 per share, for a total transaction of $13,000.00. Following the completion of the purchase, the insider now directly owns 546,806 shares of the company’s stock, valued at approximately $3,554,239. This trade represents a 0.37 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

XAI Octagon Floating Rate & Alternative Income Trust Stock Up 1.1 %

Shares of XFLT stock opened at $6.62 on Monday. XAI Octagon Floating Rate & Alternative Income Trust has a one year low of $6.29 and a one year high of $7.76. The stock has a fifty day moving average price of $6.86 and a 200 day moving average price of $6.93.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be given a $0.077 dividend. This represents a $0.92 annualized dividend and a yield of 13.96%. The ex-dividend date of this dividend is Monday, December 16th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is presently 116.09%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XFLT. Atomi Financial Group Inc. grew its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 22.8% in the 2nd quarter. Atomi Financial Group Inc. now owns 22,062 shares of the company’s stock valued at $156,000 after purchasing an additional 4,094 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in XAI Octagon Floating Rate & Alternative Income Trust by 19.8% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 201,545 shares of the company’s stock valued at $1,421,000 after acquiring an additional 33,330 shares during the period. Commonwealth Equity Services LLC raised its stake in XAI Octagon Floating Rate & Alternative Income Trust by 4.1% during the second quarter. Commonwealth Equity Services LLC now owns 45,336 shares of the company’s stock worth $320,000 after acquiring an additional 1,795 shares in the last quarter. Consolidated Portfolio Review Corp acquired a new position in XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth $850,000. Finally, Naviter Wealth LLC lifted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 23.2% during the second quarter. Naviter Wealth LLC now owns 25,332 shares of the company’s stock valued at $180,000 after acquiring an additional 4,768 shares during the period.

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.