Apollo Tactical Income Fund Inc. (NYSE:AIF) to Issue $0.13 Monthly Dividend

Apollo Tactical Income Fund Inc. (NYSE:AIF) announced a monthly dividend on Friday, November 10th, Wall Street Journal reports. Shareholders of record on Wednesday, November 22nd will be given a dividend of 0.125 per share on Thursday, November 30th. This represents a $1.50 annualized dividend and a yield of 11.48%. The ex-dividend date is Tuesday, November 21st.

Apollo Tactical Income Fund has decreased its dividend by an average of 1.4% per year over the last three years and has raised its dividend annually for the last 1 consecutive years.

Apollo Tactical Income Fund Trading Up 0.7 %

NYSE AIF opened at $13.07 on Monday. Apollo Tactical Income Fund has a 1 year low of $11.77 and a 1 year high of $13.70. The company’s 50 day simple moving average is $13.02 and its two-hundred day simple moving average is $12.79.

Institutional Trading of Apollo Tactical Income Fund

Several institutional investors and hedge funds have recently made changes to their positions in AIF. JPMorgan Chase & Co. purchased a new stake in shares of Apollo Tactical Income Fund during the 1st quarter valued at $29,000. Captrust Financial Advisors purchased a new stake in shares of Apollo Tactical Income Fund during the 2nd quarter valued at $49,000. Apollo Management Holdings L.P. purchased a new stake in shares of Apollo Tactical Income Fund during the 1st quarter valued at $63,000. Cetera Advisor Networks LLC purchased a new stake in shares of Apollo Tactical Income Fund during the 4th quarter valued at $125,000. Finally, HighTower Advisors LLC purchased a new stake in shares of Apollo Tactical Income Fund during the 4th quarter valued at $205,000.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AIF shares. BMO Capital Markets reiterated a “market perform” rating and issued a $53.00 target price (down from $68.00) on shares of Apollo Tactical Income Fund in a research note on Friday, November 10th. Royal Bank of Canada lowered their target price on shares of Apollo Tactical Income Fund from $55.00 to $52.00 and set a “sector perform” rating on the stock in a research note on Friday, November 10th.

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.