Xai floating rate VP John Spence buys $34,140 in stock By Investing.com

John Yogi Spence, Vice President of XAI Floating Rate & Alternative Income Trust (NYSE:XFLT), acquired shares of the company's common stock on October 21, 2026.

Mr. Spence purchased 2,000 shares at a price of $17.07 per share. This transaction amounted to a total value of $34,140. The purchase comes as XFLT trades near $16.91, close to its 52-week low of $14.93, with the stock down roughly 20% year-to-date. According to InvestingPro data, the trust offers an exceptional dividend yield of 15.85% and has maintained dividend payments for 10 consecutive years, making it attractive for income-focused investors despite weak overall financial health scores.

Following this acquisition, Mr. Spence directly holds 114,357 common shares of beneficial ownership. His indirect holdings include 2,050 shares through XA Investments LLC, 2,118 shares held by his spouse, and 3,646.94 shares through XMS Holdings LLC. These beneficial ownership figures reflect the issuer's 1-for-5 reverse stock split, which became effective on March 20, 2026. The reported holdings also include shares obtained through the XFLT Dividend Reinvestment Plan.

In other recent news, shareholders of XAI Floating Rate & Alternative Income Trust have approved a new investment sub-advisory agreement. This decision was made during a special meeting that was initially convened and later adjourned to allow for more proxy solicitation. The agreement involves the Trust, XA Investments, LLC, and Rockford Tower Asset Management, L.L.C. The approval allows these parties to enter into the new sub-advisory agreement, marking a significant development for the Trust. This move is part of the Trust's ongoing efforts to manage its investment strategies effectively. The announcement was made through a press release based on an SEC filing. These developments highlight the Trust's commitment to aligning its management strategies with shareholder interests.