EverSource Wealth Advisors LLC Makes New $60,000 Investment in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

EverSource Wealth Advisors LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 8,500 shares of the company’s stock, valued at approximately $60,000.

A number of other institutional investors and hedge funds also recently modified their holdings of XFLT. Sykon Capital LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Trust in the 2nd quarter worth about $155,000. Atomi Financial Group Inc. increased its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 22.8% in the second quarter. Atomi Financial Group Inc. now owns 22,062 shares of the company’s stock worth $156,000 after acquiring an additional 4,094 shares in the last quarter. Naviter Wealth LLC raised its holdings 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 valued at $180,000 after acquiring an additional 4,768 shares during the period. CFO4Life Group LLC lifted its position in shares of XAI Octagon Floating Rate & Alternative Income Trust by 38.8% in the 1st quarter. CFO4Life Group LLC now owns 35,800 shares of the company’s stock valued at $254,000 after acquiring an additional 10,000 shares in the last quarter. Finally, J.W. Cole Advisors Inc. boosted its stake in XAI Octagon Floating Rate & Alternative Income Trust by 93.5% in the 1st quarter. J.W. Cole Advisors Inc. now owns 44,753 shares of the company’s stock worth $317,000 after purchasing an additional 21,630 shares during the period.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

Shares of NYSE:XFLT opened at $6.82 on Friday. The company’s fifty day moving average is $6.92 and its two-hundred day moving average is $7.03. XAI Octagon Floating Rate & Alternative Income Trust has a 12-month low of $6.41 and a 12-month high of $7.76.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, October 1st. Investors of record on Tuesday, September 17th will be given a dividend of $0.085 per share. This represents a $1.02 annualized dividend and a yield of 14.96%. The ex-dividend date of this dividend is Tuesday, September 17th. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 117.24%.

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.