XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT) Shares Purchased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its stake in XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 82,400 shares of the company’s stock after acquiring an additional 1,400 shares during the period. PNC Financial Services Group Inc.’s holdings in XAI Octagon Floating Rate & Alternative Income Term Trust were worth $706,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Wedbush Securities Inc. increased its position in XAI Octagon Floating Rate & Alternative Income Term Trust by 2.5% during the 3rd quarter. Wedbush Securities Inc. now owns 53,379 shares of the company’s stock worth $458,000 after purchasing an additional 1,281 shares during the period. FNY Investment Advisers LLC acquired a new position in XAI Octagon Floating Rate & Alternative Income Term Trust during the 3rd quarter worth approximately $36,000. All Season Financial Advisors Inc. increased its position in XAI Octagon Floating Rate & Alternative Income Term Trust by 15.0% during the 3rd quarter. All Season Financial Advisors Inc. now owns 41,852 shares of the company’s stock worth $359,000 after purchasing an additional 5,450 shares during the period. First Trust Advisors LP increased its position in XAI Octagon Floating Rate & Alternative Income Term Trust by 22.3% during the 1st quarter. First Trust Advisors LP now owns 32,060 shares of the company’s stock worth $278,000 after purchasing an additional 5,854 shares during the period. Finally, Morgan Stanley increased its position in XAI Octagon Floating Rate & Alternative Income Term Trust by 16.6% during the 2nd quarter. Morgan Stanley now owns 57,233 shares of the company’s stock worth $547,000 after purchasing an additional 8,144 shares during the period.

In related news, insider John P. Mcgarrity sold 11,100 shares of the company’s stock in a transaction that occurred on Wednesday, December 8th. The stock was sold at an average price of $9.10, for a total value of $101,010.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider John Yogi Spence bought 4,000 shares of XAI Octagon Floating Rate & Alternative Income Term Trust stock in a transaction that occurred on Monday, December 20th. The stock was bought at an average cost of $8.53 per share, for a total transaction of $34,120.00. The disclosure for this purchase can be found here.

Shares of NYSE:XFLT opened at $9.19 on Friday. The business’s 50 day simple moving average is $9.02 and its 200-day simple moving average is $8.98. XAI Octagon Floating Rate & Alternative Income Term Trust has a 12 month low of $7.67 and a 12 month high of $9.85.

The company also recently declared a monthly dividend, which will be paid on Tuesday, February 1st. Stockholders of record on Tuesday, January 18th will be paid a dividend of $0.073 per share. This represents a $0.88 annualized dividend and a dividend yield of 9.53%. The ex-dividend date of this dividend is Friday, January 14th.

Separately, B. Riley began coverage on XAI Octagon Floating Rate & Alternative Income Term Trust in a research report on Thursday, September 23rd. They set a “buy” rating and a $10.50 target price on the stock.

About XAI Octagon Floating Rate & Alternative Income Term 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.

Read More: Risk Tolerance

Want to see what other hedge funds are holding XFLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT).

Institutional Ownership by Quarter for XAI Octagon Floating Rate & Alternative Income Term Trust (NYSE:XFLT)

Receive News & Ratings for XAI Octagon Floating Rate & Alternative Income Term Trust Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for XAI Octagon Floating Rate & Alternative Income Term Trust and related companies with MarketBeat.com's FREE daily email newsletter.