Sovereign Financial Group Inc. purchased a new stake in Apollo Tactical Income Fund Inc. (NYSE:AIF – Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 10,260 shares of the company’s stock, valued at approximately $143,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Advisor Partners II LLC acquired a new position in shares of Apollo Tactical Income Fund during the 3rd quarter worth approximately $3,961,000. Citizens Business Bank bought a new position in shares of Apollo Tactical Income Fund in the 4th quarter valued at about $377,000. Capital Market Strategies LLC acquired a new position in shares of Apollo Tactical Income Fund during the 4th quarter worth about $322,000. Ausdal Financial Partners Inc. acquired a new position in shares of Apollo Tactical Income Fund during the 4th quarter worth approximately $226,000. Finally, Redmont Wealth Advisors LLC acquired a new stake in shares of Apollo Tactical Income Fund during the 4th quarter worth about $219,000.
Insider Activity at Apollo Tactical Income Fund
In other Apollo Tactical Income Fund news, Director Barry J. Cohen sold 7,882 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $15.10, for a total value of $119,018.20. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at approximately $90,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Apollo Tactical Income Fund Stock Performance
Apollo Tactical Income Fund Increases Dividend
The company also recently declared a monthly dividend, which was paid on Tuesday, April 30th. Investors of record on Tuesday, April 23rd were paid a $0.144 dividend. The ex-dividend date was Monday, April 22nd. This is an increase from Apollo Tactical Income Fund’s previous monthly dividend of $0.14. This represents a $1.73 annualized dividend and a yield of 12.01%.
About Apollo Tactical Income Fund
Apollo Tactical Income Fund Inc is a closed-ended fixed income fund launched and managed by Apollo Credit Management, LLC. The fund invests in fixed income markets. It primarily invests in senior secured loans including floating rate senior loans, high yield corporate bonds, and other credit instruments of varying maturities made to companies whose debt is typically rated below investment grade.
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