BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Sees Significant Decline in Short Interest

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large drop in short interest in October. As of October 30th, there was short interest totaling 12,657 shares, a drop of 71.3% from the October 15th total of 44,138 shares. Based on an average trading volume of 196,644 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors acquired a new position in BlackRock Floating Rate Income Strategies Fund in the first quarter valued at $647,000. Sanctuary Advisors LLC boosted its stake in BlackRock Floating Rate Income Strategies Fund by 38.3% during the 1st quarter. Sanctuary Advisors LLC now owns 68,301 shares of the investment management company’s stock worth $753,000 after purchasing an additional 18,901 shares during the period. Klingman & Associates LLC grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.3% during the first quarter. Klingman & Associates LLC now owns 48,010 shares of the investment management company’s stock worth $529,000 after buying an additional 1,554 shares during the last quarter. Chicago Partners Investment Group LLC grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 75.5% in the 1st quarter. Chicago Partners Investment Group LLC now owns 73,057 shares of the investment management company’s stock valued at $814,000 after purchasing an additional 31,423 shares during the last quarter. Finally, Lido Advisors LLC increased its stake in BlackRock Floating Rate Income Strategies Fund by 88.6% in the 3rd quarter. Lido Advisors LLC now owns 59,373 shares of the investment management company’s stock valued at $626,000 after buying an additional 27,900 shares during the period.

BlackRock Floating Rate Income Strategies Fund Price Performance

FRA stock traded down $0.08 during trading on Friday, hitting $10.11. 105,122 shares of the company’s stock were exchanged, compared to its average volume of 166,234. The business has a 50-day moving average price of $10.37 and a two-hundred day moving average price of $10.88. BlackRock Floating Rate Income Strategies Fund has a 52-week low of $9.65 and a 52-week high of $12.23.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business 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 $0.1238 dividend. The ex-dividend date is Friday, December 11th. This represents a $1.49 annualized dividend and a dividend yield of 14.7%.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA) 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 floating-rate loans and other floating-rate debt instruments. FRA focuses largely on senior secured loans issued by companies, including borrowers with below-investment-grade credit ratings. These loans generally have interest rates that adjust periodically based on changes in reference rates, which may help reduce interest-rate sensitivity compared with fixed-rate debt.