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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant decline in short interest in May. As of May 29th, there was short interest totaling 76,048 shares, a decline of 37.8% from the May 14th total of 122,316 shares. Based on an average trading volume of 104,292 shares, the short-interest ratio is currently 0.7 days.

BlackRock Floating Rate Income Strategies Fund Stock Performance

Shares of BlackRock Floating Rate Income Strategies Fund stock opened at $10.99 on Monday. The stock’s 50-day simple moving average is $11.06 and its 200-day simple moving average is $11.37. BlackRock Floating Rate Income Strategies Fund has a 52 week low of $10.50 and a 52 week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a $0.1238 dividend. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Tuesday, September 15th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds have recently made changes to their positions in the company. Lalia Capital LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at approximately $2,093,000. GraniteShares Advisors LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at approximately $2,707,000. Shaker Financial Services LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at approximately $749,000. Edgemoor Investment Advisors Inc. raised its position in BlackRock Floating Rate Income Strategies Fund by 47.1% during the fourth quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock valued at $3,489,000 after purchasing an additional 94,860 shares during the period. Finally, Wolverine Asset Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at approximately $940,000.

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.