XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) Shares Shorted: Short Interest Down 93.2% in October

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) was the target of a significant decline in short interest in the month of October. As of October 30th, there was short interest totaling 20,513 shares, a decline of 93.2% from the October 15th total of 300,347 shares. Based on an average daily volume of 143,574 shares, the short-interest ratio is presently 0.1 days.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT stock traded down $0.28 during trading hours on Tuesday, reaching $16.07. 52,510 shares of the company’s stock were exchanged, compared to its average volume of 107,626. The company’s 50 day moving average is $18.31 and its two-hundred day moving average is $18.38. XAI Octagon Floating Rate & Alternative Income Trust has a 1 year low of $14.92 and a 1 year high of $24.40.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 1st. Investors of record on Monday, November 16th will be paid a $0.2250 dividend. This represents a $2.70 annualized dividend and a yield of 16.8%. The ex-dividend date of this dividend is Monday, November 16th. XAI Octagon Floating Rate & Alternative Income Trust’s dividend payout ratio (DPR) is presently 528.74%.

Insiders Place Their Bets

In other news, VP John Spence acquired 2,000 shares of the company’s stock in a transaction on Wednesday, October 21st. The shares were bought at an average cost of $17.07 per share, with a total value of $34,140.00. Following the purchase, the vice president owned 114,357 shares of the company’s stock, valued at $1,952,073.99. This represents a 1.78% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Trading of XAI Octagon Floating Rate & Alternative Income Trust

An institutional investor recently bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust stock. CoreCap Advisors LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,916 shares of the company’s stock, valued at approximately $51,000.

XAI Octagon Floating Rate & Alternative Income Trust Company Profile

XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) is a non-diversified, closed-end management investment company that seeks to provide investors with current income and, to a lesser extent, capital appreciation. The fund invests primarily in floating-rate credit instruments and other alternative income-producing assets. XFLT’s portfolio may include collateralized loan obligations (CLOs), including both debt and equity tranches, as well as senior secured loans and other below-investment-grade corporate credit.