PNC Financial Services Group Inc. Buys Shares of 36,710 XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

PNC Financial Services Group Inc. bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 36,710 shares of the company’s stock, valued at approximately $244,000.

Other institutional investors also recently bought and sold shares of the company. Atria Wealth Solutions Inc. purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth about $86,000. Firethorn Wealth Partners LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth about $98,000. Beacon Financial Advisory LLC increased its position in XAI Octagon Floating Rate & Alternative Income Trust by 20.9% in the fourth quarter. Beacon Financial Advisory LLC now owns 16,036 shares of the company’s stock worth $106,000 after buying an additional 2,776 shares in the last quarter. Apollon Wealth Management LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth about $167,000. Finally, Walkner Condon Financial Advisors LLC purchased a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the fourth quarter worth about $215,000.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT opened at $6.04 on Friday. The business has a 50-day simple moving average of $6.41 and a two-hundred day simple moving average of $6.68. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $5.92 and a 52 week high of $7.30.

XAI Octagon Floating Rate & Alternative Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a $0.077 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 15.31%. The ex-dividend date is Monday, March 17th. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 112.64%.

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.