XFLT: Reverse Split Didn't Fix Structural Issues

I maintain a sell rating on XAI Octagon Floating Rate & Alternative Income Trust due to persistent NAV erosion and structural weaknesses. XFLT trades at a deep ~19% discount to NAV, reflecting poor performance and high risk, despite a 14.1% yield post-reverse split. Leverage remains aggressive at 39%, with limited transparency on credit quality and significant exposure to troubled sectors.