BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 100.6% in June

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 152,564 shares, a growth of 100.6% from the May 31st total of 76,048 shares. Based on an average daily trading volume, of 152,648 shares, the days-to-cover ratio is presently 1.0 days.

BlackRock Floating Rate Income Strategies Fund Stock Performance

Shares of FRA traded up $0.07 during midday trading on Tuesday, hitting $10.97. 175,576 shares of the stock traded hands, compared to its average volume of 172,215. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $10.50 and a 1-year high of $13.41. The business’s 50 day moving average price is $11.03 and its two-hundred day moving average price is $11.29.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.1238 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 13.5%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Greykasell Wealth Strategies Inc. acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $39,000. Fifth Third Bancorp acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the first quarter worth approximately $44,000. CoreCap Advisors LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 24.2% in the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after buying an additional 1,500 shares in the last quarter. HighTower Advisors LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the 4th quarter worth approximately $123,000. Finally, Alpine Global Management LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $131,000.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund (NYSE: FRA) is a diversified, closed-end management investment company managed by BlackRock Fund Advisors. The fund primarily seeks to provide current income by investing in floating rate debt instruments, with a focus on senior secured loans and other bank-originated credit facilities. As a publicly traded vehicle, FRA offers investors exposure to a portfolio of floating rate assets designed to adjust coupon payments in response to changes in benchmark interest rates.

In constructing its portfolio, the fund typically allocates a significant portion of its assets to U.S.