LPL Financial LLC Trims Position in XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT)

LPL Financial LLC decreased its position in shares of XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT – Get Rating) by 6.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 311,221 shares of the company’s stock after selling 22,995 shares during the period. LPL Financial LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Term Trust were worth $1,967,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Summitry LLC purchased a new position in XAI Octagon Floating Rate & Alternative Income Term Trust during the third quarter worth approximately $59,000. Signaturefd LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the 4th quarter valued at about $63,000. Beacon Financial Advisory LLC acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the 4th quarter valued at about $64,000. Moors & Cabot Inc. acquired a new position in shares of XAI Octagon Floating Rate & Alternative Income Term Trust in the 3rd quarter valued at about $71,000. Finally, Naviter Wealth LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Term Trust during the 4th quarter worth about $98,000.

XAI Octagon Floating Rate & Alternative Income Term Trust Price Performance

XAI Octagon Floating Rate & Alternative Income Term Trust stock opened at $6.47 on Tuesday. The firm’s 50 day simple moving average is $6.43 and its 200-day simple moving average is $6.57. XAI Octagon Floating Rate & Alternative Income Term Trust has a fifty-two week low of $5.90 and a fifty-two week high of $8.05.

XAI Octagon Floating Rate & Alternative Income Term Trust Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Tuesday, May 16th will be paid a $0.085 dividend. The ex-dividend date is Monday, May 15th. This is a boost from XAI Octagon Floating Rate & Alternative Income Term Trust’s previous monthly dividend of $0.07. This represents a $1.02 dividend on an annualized basis and a yield of 15.77%. XAI Octagon Floating Rate & Alternative Income Term Trust’s payout ratio is 117.24%.

XAI Octagon Floating Rate & Alternative Income Term Trust Company Profile

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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.