Apollo Tactical Income Fund (NYSE:AIF) Price Target Increased to $38.00 by Analysts at BMO Capital Markets

Apollo Tactical Income Fund (NYSE:AIF) had its target price raised by BMO Capital Markets from $33.00 to $38.00 in a report published on Friday morning, Stock Target Advisor reports. BMO Capital Markets currently has an outperform rating on the stock.

Separately, CIBC reiterated a sell rating and set a $26.00 price target on shares of Apollo Tactical Income Fund in a report on Monday, July 29th.

Apollo Tactical Income Fund stock traded down $0.03 during trading hours on Friday, reaching $14.65. 19,274 shares of the company’s stock were exchanged, compared to its average volume of 54,782. The stock’s 50 day moving average price is $14.83. Apollo Tactical Income Fund has a twelve month low of $12.95 and a twelve month high of $15.91.

The firm also recently declared a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Monday, August 19th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $1.20 dividend on an annualized basis and a yield of 8.19%.

Several institutional investors and hedge funds have recently modified their holdings of AIF. Wells Fargo & Company MN grew its stake in shares of Apollo Tactical Income Fund by 9.4% in the 2nd quarter. Wells Fargo & Company MN now owns 847,367 shares of the company’s stock valued at $12,499,000 after buying an additional 72,589 shares during the period. Shaker Financial Services LLC grew its stake in shares of Apollo Tactical Income Fund by 25.6% in the 1st quarter. Shaker Financial Services LLC now owns 279,887 shares of the company’s stock valued at $4,112,000 after buying an additional 57,025 shares during the period. Bank of America Corp DE grew its stake in shares of Apollo Tactical Income Fund by 9.6% in the 4th quarter. Bank of America Corp DE now owns 257,699 shares of the company’s stock valued at $3,549,000 after buying an additional 22,672 shares during the period. Mid Atlantic Financial Management Inc. ADV acquired a new stake in shares of Apollo Tactical Income Fund in the 1st quarter valued at about $154,000. Finally, Capital Investment Advisors LLC grew its stake in shares of Apollo Tactical Income Fund by 35.5% in the 1st quarter. Capital Investment Advisors LLC now owns 37,200 shares of the company’s stock valued at $546,000 after buying an additional 9,750 shares during the period.

Apollo Tactical Income Fund Company Profile

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.

Featured Article: Why is the price target of stocks important?

Receive News & Ratings for Apollo Tactical Income Fund Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Apollo Tactical Income Fund and related companies with MarketBeat.com's FREE daily email newsletter.