XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Short Interest Up 126.6% in February

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 94,500 shares, an increase of 126.6% from the February 13th total of 41,700 shares. Based on an average daily volume of 677,000 shares, the days-to-cover ratio is presently 0.1 days.

Hedge Funds Weigh In On XAI Octagon Floating Rate & Alternative Income Trust

Several large investors have recently modified their holdings of the stock. Thomas J. Herzfeld Advisors Inc. bought a new position in XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at $6,880,000. Cresset Asset Management LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth $2,102,000. Choreo LLC purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth $1,004,000. Landscape Capital Management L.L.C. purchased a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter worth $346,000. Finally, J.W. Cole Advisors Inc. lifted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 30.1% in the 4th quarter. J.W. Cole Advisors Inc. now owns 205,326 shares of the company’s stock worth $1,363,000 after buying an additional 47,473 shares during the period.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of NYSE XFLT traded up $0.03 during trading hours on Friday, hitting $6.17. 403,716 shares of the company traded hands, compared to its average volume of 619,027. The company’s 50 day moving average price is $6.47 and its 200 day moving average price is $6.71. XAI Octagon Floating Rate & Alternative Income Trust has a 12 month low of $6.11 and a 12 month high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.077 per share. This represents a $0.92 annualized dividend and a dividend yield of 14.99%. The ex-dividend date is Monday, March 17th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is currently 112.64%.

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.