XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 82,400 shares of the company’s stock after purchasing an additional 1,400 shares during the quarter. PNC Financial Services Group Inc.’s holdings in XAI Octagon Floating Rate & Alternative Income Term Trust were worth $706,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. FNY Investment Advisers LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the third quarter valued at approximately $36,000. Private Advisor Group LLC acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the third quarter valued at approximately $97,000. Bank of New York Mellon Corp acquired a new stake in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the second quarter valued at approximately $113,000. Kestra Advisory Services LLC increased its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 59.4% in the third quarter. Kestra Advisory Services LLC now owns 29,407 shares of the company’s stock valued at $252,000 after purchasing an additional 10,953 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of XAI Octagon Floating Rate & Alternative Income Term Trust by 22.3% in the first quarter. First Trust Advisors LP now owns 32,060 shares of the company’s stock valued at $278,000 after purchasing an additional 5,854 shares during the last quarter.

In other XAI Octagon Floating Rate & Alternative Income Term Trust news, insider John Yogi Spence acquired 4,000 shares of the stock in a transaction that occurred on Monday, December 20th. The stock was bought at an average cost of $8.53 per share, for a total transaction of $34,120.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John P. Mcgarrity sold 11,100 shares of the firm’s stock in a transaction on Wednesday, December 8th. The stock was sold at an average price of $9.10, for a total value of $101,010.00. The disclosure for this sale can be found here.

Separately, B. Riley initiated coverage on XAI Octagon Floating Rate & Alternative Income Term Trust in a report on Thursday, September 23rd. They issued a “buy” rating and a $10.50 price target for the company.

Shares of XAI Octagon Floating Rate & Alternative Income Term Trust stock opened at $9.19 on Friday. XAI Octagon Floating Rate & Alternative Income Term Trust has a fifty-two week low of $7.67 and a fifty-two week high of $9.85. The stock has a 50 day moving average of $9.02 and a 200 day moving average of $8.98.

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, February 1st. Investors of record on Tuesday, January 18th will be given a $0.073 dividend. The ex-dividend date is Friday, January 14th. This represents a $0.88 annualized dividend and a yield of 9.53%.

XAI Octagon Floating Rate & Alternative Income Term 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.

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Institutional Ownership by Quarter for XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT)

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