Modera Wealth Management LLC Increases Stock Holdings in XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT)

Modera Wealth Management LLC increased its holdings in shares of XAI Octagon Floating Rate & Alternative Income Trust (NYSE:XFLT) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the company’s stock after buying an additional 2,150 shares during the quarter. Modera Wealth Management LLC’s holdings in XAI Octagon Floating Rate & Alternative Income Trust were worth $184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Belpointe Asset Management LLC grew its stake in XAI Octagon Floating Rate & Alternative Income Trust by 32.3% during the 2nd quarter. Belpointe Asset Management LLC now owns 613,571 shares of the company’s stock valued at $4,326,000 after purchasing an additional 149,744 shares during the last quarter. Consolidated Portfolio Review Corp grew its stake in XAI Octagon Floating Rate & Alternative Income Trust by 109.9% during the 3rd quarter. Consolidated Portfolio Review Corp now owns 252,994 shares of the company’s stock valued at $1,725,000 after purchasing an additional 132,481 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in XAI Octagon Floating Rate & Alternative Income Trust by 19.8% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 201,545 shares of the company’s stock valued at $1,421,000 after purchasing an additional 33,330 shares during the last quarter. J.W. Cole Advisors Inc. boosted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 90.5% in the second quarter. J.W. Cole Advisors Inc. now owns 85,241 shares of the company’s stock worth $601,000 after buying an additional 40,488 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of XAI Octagon Floating Rate & Alternative Income Trust by 3.0% in the third quarter. Private Advisor Group LLC now owns 84,443 shares of the company’s stock worth $576,000 after buying an additional 2,493 shares during the last quarter.

XAI Octagon Floating Rate & Alternative Income Trust Stock Performance

Shares of XFLT opened at $6.90 on Wednesday. XAI Octagon Floating Rate & Alternative Income Trust has a 52 week low of $6.53 and a 52 week high of $7.76. The stock’s 50-day moving average price is $6.86 and its 200-day moving average price is $6.99.

XAI Octagon Floating Rate & Alternative Income Trust Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 15th will be paid a $0.085 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 14.78%. XAI Octagon Floating Rate & Alternative Income Trust’s payout ratio is 117.24%.

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.