BlackRock Debt Strategies Fund (NYSE:DSU) Hits New 12-Month Low – Here’s What Happened

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $9.07 and last traded at $9.0850, with a volume of 193597 shares traded. The stock had previously closed at $9.12.

BlackRock Debt Strategies Fund Stock Performance

The company has a 50-day moving average of $9.40 and a 200 day moving average of $9.63.

BlackRock Debt Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be issued a dividend of $0.0987 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) dividend on an annualized basis and a dividend yield of 13.1%.

Institutional Investors Weigh In On BlackRock Debt Strategies Fund

A number of hedge funds have recently modified their holdings of DSU. CoreCap Advisors LLC lifted its stake in BlackRock Debt Strategies Fund by 49.3% in the 2nd quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,400 shares in the last quarter. Matrix Private Capital Group LLC acquired a new stake in shares of BlackRock Debt Strategies Fund in the first quarter valued at approximately $96,000. PNC Financial Services Group Inc. lifted its position in BlackRock Debt Strategies Fund by 5.6% during the first quarter. PNC Financial Services Group Inc. now owns 42,504 shares of the financial services provider’s stock worth $408,000 after buying an additional 2,247 shares in the last quarter. Fifth Third Bancorp acquired a new position in BlackRock Debt Strategies Fund during the first quarter worth $147,000. Finally, Kestra Advisory Services LLC grew its holdings in BlackRock Debt Strategies Fund by 4.0% in the 1st quarter. Kestra Advisory Services LLC now owns 29,190 shares of the financial services provider’s stock valued at $280,000 after buying an additional 1,111 shares in the last quarter. 24.29% of the stock is currently owned by institutional investors and hedge funds.

About BlackRock Debt Strategies Fund

BlackRock Debt Strategies Fund, Inc (NYSE: DSU) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income and, to a lesser extent, capital appreciation by investing primarily in debt securities and other income-producing investments.

Its portfolio generally focuses on below-investment-grade corporate debt, including senior secured and floating-rate loans. These investments are typically issued by companies across a range of industries and may include loans and other debt instruments that rank senior to a company’s common equity and certain other obligations.

The fund is designed to provide shareholders with access to a professionally managed portfolio of corporate credit investments.