Thomas J. Herzfeld Advisors Inc. Purchases New Stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

Thomas J. Herzfeld Advisors Inc. bought a new position in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the 4th quarter, Holdings Channel.com reports. The fund bought 1,036,151 shares of the company’s stock, valued at approximately $6,880,000. XAI Octagon Floating Rate & Alternative Income Trust accounts for about 2.2% of Thomas J. Herzfeld Advisors Inc.’s portfolio, making the stock its 10th largest holding.

A number of other institutional investors have also modified their holdings of the stock. Firethorn Wealth Partners LLC bought a new position in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth $98,000. Choreo LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 4th quarter valued at about $1,004,000. Beacon Financial Advisory LLC grew its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 20.9% during the 4th quarter. Beacon Financial Advisory LLC now owns 16,036 shares of the company’s stock valued at $106,000 after buying an additional 2,776 shares during the last quarter. Consolidated Portfolio Review Corp raised its stake in XAI Octagon Floating Rate & Alternative Income Trust by 6.9% during the fourth quarter. Consolidated Portfolio Review Corp now owns 270,421 shares of the company’s stock worth $1,796,000 after acquiring an additional 17,427 shares during the period. Finally, Apollon Wealth Management LLC acquired a new stake in XAI Octagon Floating Rate & Alternative Income Trust during the fourth quarter worth about $167,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT stock opened at $5.92 on Tuesday. The business has a 50 day moving average of $6.34 and a two-hundred day moving average of $6.64. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $5.89 and a 52 week high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be paid a dividend of $0.077 per share. The ex-dividend date is Monday, March 17th. This represents a $0.92 dividend on an annualized basis and a yield of 15.62%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is currently 112.64%.

XAI Octagon Floating Rate & Alternative Income Trust 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.