Welcome to our dedicated page for XAI Octagon FR & Alternative Trust news (Ticker: XFLT), a resource for investors and traders seeking the latest updates and insights on XAI Octagon FR & Alternative Trust stock.
XAI Octagon Floating Rate and Alternative Income Trust (NYSE: XFLT) is a diversified, closed-end management investment company focused on floating-rate credit instruments and other structured credit investments within the private credit markets. Its stated objective is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle, and its common shares of beneficial interest trade on the New York Stock Exchange under the symbol XFLT.
The news flow around XFLT often centers on its regular monthly common share distributions, including announcements of declared distribution amounts, record dates, payable dates and any changes from prior distribution levels. These distribution updates also describe how payments may be sourced from net investment income, capital gains and/or return of capital, and they outline related tax considerations for shareholders.
Another recurring theme in XFLT-related news is the Trust’s capital structure activity. This includes announcements about preferred share offerings and redemptions, such as the issuance of Series A Mandatory Redeemable Preferred Shares, the use of proceeds to refinance existing leverage, and the redemption of 6.50% Series 2026 Term Preferred Shares. Filings and press releases describe dividend rates, liquidation preferences, redemption terms and the role of these preferred shares in the Trust’s financing.
News items also highlight the broader role of XA Investments LLC, the Trust’s investment adviser, and Octagon Credit Investors, LLC, its investment sub-adviser. XAI publishes market research on interval and tender offer funds and has launched indices such as the XAI Interval Fund Index and the XAI Interval Fund Credit Index, which relate to alternative credit strategies similar to those pursued by the Trust. For investors and analysts following XFLT, the news page provides ongoing insight into distribution policies, leverage and preferred share activity, and adviser-led research initiatives connected to the Trust’s credit-focused investment approach.
Madison Covered Call & Equity Strategy Fund (MCN) has announced its quarterly distribution of $0.18 per share, maintaining the same amount as the previous quarter. The distribution will be payable on December 31, 2024, to shareholders of record as of December 17, 2024. The Fund's distributions may come from net investment income, capital gains, and/or return of capital. The Fund aims to maintain stable quarterly distributions while pursuing high current income and capital gains, with long-term appreciation as a secondary goal. It achieves this through a portfolio of common stocks and covered call options writing strategy.
Madison Covered Call & Equity Strategy Fund (NYSE: MCN) announced three major changes: XA Investments (XAI) has been appointed as investment adviser, Madison Asset Management as sub-adviser, and the fund will be rebranded as XAI Madison Equity Premium Income Fund. The changes follow shareholder approval on October 15, 2024. The Fund will maintain its NYSE ticker MCN and expects to trade under the new name around December 9, 2024. This addition expands XAI's closed-end fund platform to three funds, joining XFLT and OCTIX. The partnership aims to combine Madison's 20-year covered call expertise with XAI's closed-end fund management experience.
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) has announced a monthly distribution of $0.077 per share, representing a 9.41% decrease from the previous month's $0.085 distribution. The reduction follows two Federal Reserve rate cuts totaling 0.75% in the past three months, which impacted floating rate securities' income generation. The distribution is payable on December 30, 2024, to shareholders of record as of December 16, 2024. The Trust's annualized distribution rate stands at 13.28% on market price and 13.85% on NAV as of November 26, 2024.
XAI Octagon Floating Rate & Alternative Income Trust (NYSE: XFLT) has announced a Quarterly Webinar scheduled for December 6, 2024, at 11:00 am ET. The Q&A-style webinar will feature Kevin Davis from XA Investments as moderator, alongside Kimberly Flynn and Lauren Law. The webinar will be accessible via web through xainvestments.com, with telephone options available. A replay will be made available in the Knowledge Bank section of their website.
The Trust aims for attractive total return focusing on income generation across credit cycles, investing primarily in private credit markets with at least 80% of Managed Assets in floating rate credit instruments and structured credit investments under normal conditions.
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) has declared its monthly distribution of $0.085 per share on common shares, maintaining the same amount as the previous month. The distribution is payable on December 2, 2024, to shareholders of record as of November 15, 2024. The Trust invests primarily in floating rate credit instruments and structured credit investments, maintaining at least 80% of its Managed Assets in these instruments under normal market conditions. Distributions may come from net investment income, capital gains, or return of capital, with final tax characteristics to be reported on Form 1099.
XA Investments has released its Non-Listed Closed-End Funds Third Quarter 2024 Market Update, revealing significant market growth. The report shows 235 interval and tender offer funds with $162 billion in net assets and $191 billion in total managed assets. The market saw a net increase of 5 funds from Q2, with total managed assets rising by $17 billion. Year-to-date, there's been an increase of 27 funds and $36 billion in net assets. The market is diversifying, with the top 20 funds' market share decreasing from 73% to 65%. There are currently 53 funds in SEC registration, with a record 21 new filings in Q3 2024, a 90% increase from Q3 2023.
Shareholders of the Madison Covered Call & Equity Strategy Fund (NYSE: MCN) approved key proposals during a special meeting on October 15, 2024. These include:
- A new slate of trustees
- Appointing XA Investments (XAI) as the Fund's investment advisor
- Appointing Madison Asset Management as the Fund's investment sub-advisor
The new agreements, effective December 2, 2024, will not change the Fund's day-to-day management, fees, or investment objectives. The Fund will be renamed XAI Madison Equity Premium Income Fund, joining XAI's platform of closed-end funds. It will continue trading under the ticker MCN. Portfolio manager Ray Di Bernardo expressed excitement about the partnership with XAI, while XAI President Kimberly Flynn highlighted potential benefits for shareholders.
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) has declared its regular monthly distribution of $0.085 per common share and a quarterly preferred dividend of $0.40625 per share for its 6.50% Series 2026 Term Preferred Shares (XFLTPRA). The ex-dividend date, record date, and payable date for both are set for October 15, 2024, October 15, 2024, and November 1, 2024, respectively. There is no change from the previous declaration.
The Trust's distributions may come from various sources, including net investment income, capital gains, and return of capital. The Trust aims to maintain stable monthly distributions for common shareholders while complying with applicable laws and financial covenants. The investment objective of XFLT is to seek attractive total return with an emphasis on income generation across multiple stages of the credit cycle.
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.
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