XAI Octagon Floating Rate & Alternative Income Term Trust
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $261.5M
- Price
- $17.83
- % Change (Daily % change from the live per-ticker quote feed.)
- +0.17%
- Volume
- 65.8K
Quote data as of 5:25 AM ET
About
Operating as a diversified, closed-end investment trust, XAI Octagon Floating Rate & Alternative Income Term Trust focuses its capital allocation on a dynamically managed portfolio. This portfolio primarily comprises floating-rate credit instruments and various other structured credit investments sourced from private markets. The Trust was established on September 27, 2017, and maintains its headquarters in Chicago, Illinois.
Quick stats
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Key info
SectorFinancial Services
IndustryAsset Management - Income
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001703079
AI Summary
AI-generated4d agominorbearishotherBulldog Investors Urges Shareholders of XFLT to Vote No at Special Meeting
Bulldog Investors, a holder of 310,000 shares, is urging XFLT shareholders to vote against a new sub-advisory agreement at the July 30 special meeting.
The activist firm criticized the Board for converting XFLT from a term trust to a perpetual fund in 2023, a move it claims led to the stock collapsing 65% from its adjusted IPO price of $50 to roughly $17.65.
Bulldog argues that simply replacing the sub-advisor is insufficient and warns that rejecting the proposal should trigger a liquidation, which could yield a 30% premium over current market prices.
Red flags
- Stock trading at >20% discount to Net Asset Value (NAV)
- Stock price down 65% from adjusted IPO price
- Activist shareholder alleges 'bait and switch' governance regarding term trust conversion