Short Interest in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Declines By 66.5%

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 262,200 shares, a drop of 66.5% from the November 30th total of 782,700 shares. Based on an average trading volume of 669,500 shares, the short-interest ratio is presently 0.4 days.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE XFLT remained flat at $6.68 during midday trading on Thursday. 490,417 shares of the stock were exchanged, compared to its average volume of 483,711. The firm has a fifty day moving average price of $6.85 and a 200-day moving average price of $6.92. XAI Octagon Floating Rate & Alternative Income Trust has a twelve month low of $6.29 and a twelve month high of $7.76.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company 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 dividend of $0.077 per share. The ex-dividend date is Monday, December 16th. This represents a $0.92 annualized dividend and a yield of 13.83%. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio is presently 116.09%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter valued at approximately $60,000. Freestate Advisors LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust during the third quarter valued at $75,000. Sykon Capital LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the second quarter valued at about $155,000. Atomi Financial Group Inc. increased its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 22.8% during the second quarter. Atomi Financial Group Inc. now owns 22,062 shares of the company’s stock worth $156,000 after purchasing an additional 4,094 shares in the last quarter. Finally, Naviter Wealth LLC increased its stake 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 worth $180,000 after purchasing an additional 4,768 shares in the last quarter.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

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.