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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 212,097 shares, an increase of 18.0% from the February 26th total of 179,687 shares. Based on an average daily trading volume, of 232,517 shares, the days-to-cover ratio is currently 0.9 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds have recently added to or reduced their stakes in the business. Readystate Asset Management LP acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth about $5,774,000. Balyasny Asset Management L.P. acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at about $2,772,000. GraniteShares Advisors LLC purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth about $2,707,000. Cerity Partners LLC purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth about $2,533,000. Finally, Lalia Capital LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter worth about $2,093,000.

BlackRock Floating Rate Income Strategies Fund Stock Performance

FRA traded up $0.38 during trading on Tuesday, reaching $10.99. 277,136 shares of the company’s stock were exchanged, compared to its average volume of 214,668. BlackRock Floating Rate Income Strategies Fund has a 1 year low of $10.50 and a 1 year high of $13.41. The company’s fifty day simple moving average is $11.31 and its 200-day simple moving average is $11.93.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date of this dividend is Monday, June 15th.

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.