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 drop in short interest in March. As of March 31st, there was short interest totaling 106,221 shares, a drop of 49.9% from the March 15th total of 212,097 shares. Based on an average daily volume of 165,534 shares, the short-interest ratio is presently 0.6 days.

BlackRock Floating Rate Income Strategies Fund Stock Down 0.9%

BlackRock Floating Rate Income Strategies Fund stock traded down $0.11 during mid-day trading on Wednesday, reaching $10.98. The company’s stock had a trading volume of 18,675 shares, compared to its average volume of 202,485. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $10.50 and a 12 month high of $13.41. The business’s 50 day simple moving average is $11.14 and its 200 day simple moving average is $11.78.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

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 given a $0.1238 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 13.5%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the third quarter valued at approximately $27,000. Greykasell Wealth Strategies Inc. bought a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $39,000. CoreCap Advisors LLC grew its stake in BlackRock Floating Rate Income Strategies Fund by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,500 shares in the last quarter. HighTower Advisors LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $123,000. Finally, Alpine Global Management LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $131,000.

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.