Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Increases By 66.2%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant growth in short interest during the month of August. As of August 14th, there was short interest totaling 100,589 shares, a growth of 66.2% from the July 30th total of 60,531 shares. Based on an average daily volume of 160,647 shares, the days-to-cover ratio is presently 0.6 days.

BlackRock Floating Rate Income Strategies Fund Stock Performance

NYSE:FRA traded down $0.11 during midday trading on Tuesday, reaching $11.04. The stock had a trading volume of 103,628 shares, compared to its average volume of 166,570. The firm has a fifty day simple moving average of $10.88 and a two-hundred day simple moving average of $11.00. BlackRock Floating Rate Income Strategies Fund has a 12-month low of $10.50 and a 12-month high of $13.41.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. acquired a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $39,000. Fifth Third Bancorp acquired a new position in BlackRock Floating Rate Income Strategies Fund during the 1st quarter worth approximately $44,000. HighTower Advisors LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $123,000. Alpine Global Management LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $131,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 8.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock worth $182,000 after buying an additional 1,248 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Company Profile

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.