BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 105.8% in May

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 122,316 shares, a growth of 105.8% from the April 30th total of 59,448 shares. Based on an average trading volume of 108,580 shares, the days-to-cover ratio is presently 1.1 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several large investors have recently added to or reduced their stakes in FRA. Royal Bank of Canada lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 79.9% in the 1st quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock worth $2,139,000 after acquiring an additional 73,518 shares during the period. Baird Financial Group Inc. increased its position 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 purchasing an additional 47,946 shares during the period. Raymond James Financial Inc. raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% in 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 purchasing an additional 46,145 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the second quarter valued at $244,000. Finally, Edgemoor Investment Advisors Inc. lifted its position in BlackRock Floating Rate Income Strategies Fund by 7.2% in the third quarter. Edgemoor Investment Advisors Inc. now owns 201,353 shares of the investment management company’s stock worth $2,614,000 after purchasing an additional 13,536 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Performance

NYSE FRA traded down $0.04 during midday trading on Monday, hitting $11.10. The company had a trading volume of 94,982 shares, compared to its average volume of 176,440. The firm has a fifty day simple moving average of $11.02 and a two-hundred day simple moving average of $11.44. BlackRock Floating Rate Income Strategies Fund has a fifty-two week low of $10.50 and a fifty-two week high of $13.41.

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.