BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Update

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 59,448 shares, a decrease of 60.3% from the April 15th total of 149,761 shares. Based on an average daily trading volume, of 135,461 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FRA. Royal Bank of Canada grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 79.9% during the first quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock valued at $2,139,000 after buying an additional 73,518 shares during the last quarter. Baird Financial Group Inc. grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 130.3% during the second quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock valued at $1,113,000 after buying an additional 47,946 shares during the last quarter. Raymond James Financial Inc. grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% during the second quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock valued at $2,984,000 after buying an additional 46,145 shares during the last quarter. Jane Street Group LLC bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the second quarter valued at approximately $244,000. Finally, Klingman & Associates LLC grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 2.8% during the third quarter. Klingman & Associates LLC now owns 45,048 shares of the investment management company’s stock valued at $585,000 after buying an additional 1,248 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Trading Down 1.4%

Shares of FRA traded down $0.16 during mid-day trading on Friday, reaching $11.06. 164,551 shares of the company’s stock traded hands, compared to its average volume of 184,335. The stock’s 50-day moving average is $10.99 and its two-hundred day moving average is $11.55. 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 firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.1238 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%.

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.