XAI Octagon FR & Alternative Inc Trust Stock Price, News & Analysis

XA Investments (XAI), a Chicago-based alternative investment management and consulting firm, has welcomed Paul Dunn as a Senior Advisor. Dunn, with his extensive experience in the alternatives market, will advise XAI on sales and distribution. His appointment is expected to contribute to the firm's growth, particularly in the rapidly expanding interval fund marketplace.

Dunn's previous role as Executive Vice President at Bluerock Capital Markets involved leading the wholesaling team and managing key business functions. He was instrumental in launching two successful interval funds: the Bluerock Total Income+ Real Estate Fund and the Bluerock High Income Institutional Credit Fund. His diverse background includes experience in RIA, family office, and wirehouse sales, as well as leadership roles at various asset management firms.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has declared its monthly distribution of $0.085 per common share, payable on October 1, 2024, to shareholders of record as of September 17, 2024. This amount remains unchanged from the previous month. The Trust aims to maintain stable monthly distributions, which may be paid from various sources including net investment income, capital gains, and/or return of capital. The Trust's investments, particularly in CLOs, are subject to complex tax rules, and its taxable income can differ significantly from GAAP income. As a registered investment company, XFLT is subject to a 4% excise tax if it doesn't distribute a specified percentage of its income and capital gains annually.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has announced a Q2 2024 Quarterly Webinar scheduled for August 29, 2024, at 11:00 am Eastern Time. The webinar will feature Kevin Davis from XA Investments as moderator, along with Kimberly Flynn and Lauren Law. Participants can join via web or telephone, with replay available later. XFLT aims for attractive total return, emphasizing income generation across credit cycles. The Trust invests primarily in private credit markets, with at least 80% of Managed Assets in floating rate credit instruments and structured credit investments under normal conditions. XFLT's common shares trade on NYSE under 'XFLT', while its 6.50% Series 2026 Term Preferred Shares trade as 'XFLTPRA'.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has declared its monthly distribution of $0.085 per common share, payable on September 3, 2024, to shareholders of record as of August 15, 2024. This distribution amount remains unchanged from the previous month. The Trust aims to maintain stable monthly distributions, which may be sourced from net investment income, capital gains, or return of capital. XFLT's investment objective is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle, primarily investing in private credit markets. Under normal conditions, at least 80% of its Managed Assets are invested in floating rate credit instruments and structured credit investments.

XA Investments (XAI) has announced a pending transaction to become the investment adviser for the Madison Covered Call & Equity Strategy Fund (NYSE: MCN), a $146 million listed closed-end fund. This move is subject to MCN shareholder approval and is expected to occur in Q4 2024. Notably, Madison Investments will retain portfolio management responsibilities as sub-adviser, also pending shareholder approval.

The acquisition would expand XAI's closed-end fund platform to three funds. Ray Di Bernardo, who has managed MCN for 20 years, expressed excitement about continuing to deliver lower volatility and strong cash flows to shareholders. XAI aims to provide superior growth in assets under management, continuity of the existing portfolio management team, and enhanced investor relations for MCN shareholders.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) announced its regular monthly distribution of $0.085 per common share, with key dates set for July 15, 2024 (ex-dividend and record date), and August 1, 2024 (payable date). No change in amount from previous declarations.

The Trust also declared a quarterly dividend of $0.40625 per share for its 6.50% Series 2026 Term Preferred Shares (NYSE: XFLTPRA), with a payable date of July 31, 2024. Distributions may include net investment income, capital gains, and return of capital.

As a registered investment company, the Trust must distribute significant income to avoid excise tax. Preferred shareholders have priority in distributions, and dividend amounts are cumulative. Future distributions will be based on several factors, including financial performance and compliance with covenants.

For more details, shareholders can visit www.xainvestments.com.

XA Investments (XAI) has appointed Kevin Davis, CFP®, as Managing Director and Head of Sales & Distribution. Davis brings over 25 years of experience in alternative investment management, focusing on distribution. He previously held senior roles at BNY Mellon, Fidelity, Salient Partners, and Sun Life. At XAI, Davis will lead the distribution of the Octagon XAI CLO Income Fund (OCTIX) and future funds. XAI's closed-end fund, XAI Octagon Floating Rate & Alternative Trust (XFLT), had $679M in assets as of May 31, 2024. Davis' appointment aims to capitalize on rising demand for interval funds.

XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has announced a Purchase Agreement with institutional investors for the sale of 1,800,000 shares of its 6.95% Series II 2029 Convertible Preferred Shares. These shares, due December 2029, have a liquidation preference of $25 per share and will bring in approximately $41.85 million in net proceeds. The shares will pay a quarterly dividend at an annual rate of 6.95% and can be converted into common shares six months after issuance. The convertible preferred shares must be redeemed by December 31, 2029, at their liquidation preference plus unpaid dividends. The shares won't be listed on any exchange and are non-transferable without the Trust's consent.

XAI Octagon Floating Rate & Alternative Income Trust (XFLT) has announced its monthly distribution of $0.085 per common share, maintaining the same amount as the previous month. The distribution is payable on July 1, 2024, to shareholders recorded as of June 17, 2024. The Trust's distributions can include net investment income, capital gains, and return of capital. The specifics of the distribution's tax characteristics will be detailed in Form 1099 at the end of 2024. XFLT ensures stable monthly distributions despite potential variations in net investment income and capital gains. The Trust aims to achieve attractive total returns through investments in floating rate credit instruments and private credit markets. Future distributions depend on several factors including financial performance and compliance with senior securities' terms.