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XAI Octagon Floating Rate & Alternative Income Term Trust of Beneficial Interest
Note: this article was released to members 1 month ago.
In our latest Chemist's Monthly Quality Closed-End Fund Report, Ares Dynamic Credit Allocation Fund (ARDC) was ranked 5th in the D x Y list with a -11.45% discount and 8.55% yield which was 104% covered. However, its positive 1-year z-score of +0.6 meant that it did not appear in the D x Y x Z list.
In this note, I'd like to revisit the CLO exposure of ARDC. This closed-end fund is classified by a "senior loan" fund by CEFConnect but