Belpointe Asset Management LLC Sells 129,975 Shares of XAI Octagon Floating Rate & Alternative Income Trust $XFLT

Belpointe Asset Management LLC lowered its stake in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 26.8% in the third quarter, HoldingsChannel.com reports. The firm owned 355,076 shares of the company’s stock after selling 129,975 shares during the quarter. Belpointe Asset Management LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $1,882,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Matisse Capital bought a new position in XAI Octagon Floating Rate & Alternative Income Trust in the 3rd quarter valued at $1,391,000. Guggenheim Capital LLC raised its holdings in XAI Octagon Floating Rate & Alternative Income Trust by 1,534.9% during the 2nd quarter. Guggenheim Capital LLC now owns 252,119 shares of the company’s stock worth $1,424,000 after purchasing an additional 236,698 shares during the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the second quarter worth approximately $1,201,000. Shaker Financial Services LLC bought a new stake in shares of XAI Octagon Floating Rate & Alternative Income Trust during the 2nd quarter valued at $1,107,000. Finally, Meadowbrook Wealth Management LLC bought a new stake in XAI Octagon Floating Rate & Alternative Income Trust in the third quarter valued at about $279,000.

XAI Octagon Floating Rate & Alternative Income Trust Price Performance

NYSE:XFLT opened at $4.57 on Wednesday. XAI Octagon Floating Rate & Alternative Income Trust has a 1-year low of $4.41 and a 1-year high of $6.64. The business’s 50-day moving average price is $4.63 and its two-hundred day moving average price is $5.07.

XAI Octagon Floating Rate & Alternative Income Trust Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 30th. Investors of record on Thursday, January 15th will be issued a dividend of $0.06 per share. The ex-dividend date is Thursday, January 15th. This represents a c) dividend on an annualized basis and a yield of 15.8%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is currently 97.70%.

About XAI Octagon Floating Rate & Alternative Income Trust

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) is a closed-end management investment company that seeks to provide current income by investing primarily in floating-rate senior secured debt and credit-related securities. The fund’s portfolio is constructed to offer exposure to corporate floating-rate loans, collateralized loan obligations (CLOs) and other structured credit instruments, with the goal of generating attractive risk-adjusted yields across changing interest-rate environments.

Advised by XAI Asset Management, LLC and sub-advised by Octagon Credit Investors, the trust combines the credit selection capabilities of both firms to identify opportunities in North American corporate credit markets.