XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Insider John Yogi Spence Buys 2,000 Shares

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

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

XFLT opened at $6.62 on Friday. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $6.29 and a 1 year high of $7.76. The company’s 50 day simple moving average is $6.86 and its 200 day simple moving average is $6.94.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust in the second quarter valued at approximately $60,000. Freestate Advisors LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust in the third quarter worth $75,000. Sykon Capital LLC purchased a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust in the 2nd quarter valued at $155,000. Atomi Financial Group Inc. lifted its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust by 22.8% during the 2nd quarter. Atomi Financial Group Inc. now owns 22,062 shares of the company’s stock valued at $156,000 after acquiring an additional 4,094 shares in the last quarter. Finally, Naviter Wealth LLC boosted its position in XAI Octagon Floating Rate & Alternative Income Trust by 23.2% during the 2nd quarter. Naviter Wealth LLC now owns 25,332 shares of the company’s stock worth $180,000 after purchasing 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.