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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 114,900 shares, an increase of 79.5% from the April 30th total of 64,000 shares. Based on an average daily trading volume, of 140,200 shares, the days-to-cover ratio is currently 0.8 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Realta Investment Advisors acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at about $162,000. Klingman & Associates LLC grew its stake in BlackRock Floating Rate Income Strategies Fund by 50.1% during the 4th quarter. Klingman & Associates LLC now owns 41,342 shares of the investment management company’s stock valued at $568,000 after purchasing an additional 13,795 shares in the last quarter. Anfield Capital Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $55,000. Raymond James Financial Inc. acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $1,957,000. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its position in shares of BlackRock Floating Rate Income Strategies Fund by 6.9% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,589 shares of the investment management company’s stock valued at $201,000 after purchasing an additional 948 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Down 0.0%

NYSE FRA traded down $0.01 on Monday, reaching $12.71. The company had a trading volume of 17,230 shares, compared to its average volume of 171,220. BlackRock Floating Rate Income Strategies Fund has a 1 year low of $10.90 and a 1 year high of $14.50. The firm has a 50-day moving average of $12.42 and a 200-day moving average of $13.07.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which was paid on Friday, May 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.1238 per share. This represents a $1.49 dividend on an annualized basis and a yield of 11.70%. The ex-dividend date was Thursday, May 15th.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.