Welcome to our dedicated page for XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest news (Ticker: XFLT), a resource for investors and traders seeking the latest updates and insights on XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest stock.
XAI Octagon Floating Rate & Alternative Income Trust (XFLT) is a diversified, closed-end management investment company that focuses on providing investors with access to a dynamically managed portfolio of floating-rate credit instruments and other structured credit investments within private markets. The Trust aims to deliver an attractive total return with a strong emphasis on income generation across various stages of the credit cycle.
Founded by XA Investments LLC (XAI), a Chicago-based firm established in April 2016, XFLT benefits from the extensive expertise of XAI’s leadership team and its strategic partnerships with elite alternative asset managers. These partnerships include top-tier hedge fund managers, private debt and equity firms, and alternative credit managers, ensuring that XFLT leverages institutional-caliber investment strategies.
XAI’s unique approach, embodied in its proprietary Alternative Registered Trust (ART)™ platform, tailors its alternative investment offerings to meet the specific needs of financial advisors and their clients. This differentiated approach provides better access to a broader range of alternative investment options, underscoring XAI’s commitment to innovation and investor-centric solutions.
XA Investments, the driving force behind XFLT, was founded by XMS Capital Partners, LLC (XMS) in 2006. XMS is a global, independent financial services firm renowned for its M&A, corporate advisory, and asset management services. With a focus on building trusted relationships, XMS has successfully served a diverse clientele, solidifying its reputation in the financial services industry.
Recent achievements for XFLT include its strategic positioning to navigate the complexities of the credit cycle, continually optimizing its portfolio to enhance income generation. The Trust remains committed to providing its investors with sustainable returns by adapting to market trends and leveraging the expertise of its distinguished partners.
For the latest updates and news on XAI Octagon Floating Rate & Alternative Income Trust (XFLT), visit our news section which is regularly updated with relevant information about company performance, key events, and significant developments.
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.
FAQ
What is the current stock price of XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest (XFLT)?
What is the market cap of XAI Octagon Floating Rate and Alternative Income Trust Common Shares of Beneficial Interest (XFLT)?
What is XAI Octagon Floating Rate & Alternative Income Trust (XFLT)?
What is the main investment objective of XFLT?
Who manages XFLT?
What is the ART™ platform?
Who are the partners of XAI?
What kind of investments does XFLT focus on?
How does XFLT generate income?
What kind of firm is XMS Capital Partners, LLC?
How can I stay updated on XFLT's performance and news?
