BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Share Price Passes Below 200-Day Moving Average – Time to Sell?

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.93 and traded as low as $10.59. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.60, with a volume of 89,895 shares.

BlackRock Floating Rate Income Strategies Fund Trading Down 0.7%

The stock has a 50 day moving average of $10.84 and a 200-day moving average of $10.93.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Lalia Capital LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at about $2,093,000. Absolute Investment Advisers LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the 1st quarter worth about $1,204,000. Edgemoor Investment Advisors Inc. grew its stake in BlackRock Floating Rate Income Strategies Fund by 47.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock worth $3,489,000 after acquiring an additional 94,860 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund during the first quarter worth approximately $647,000. Finally, Chicago Partners Investment Group LLC increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 75.5% during the first quarter. Chicago Partners Investment Group LLC now owns 73,057 shares of the investment management company’s stock worth $814,000 after acquiring an additional 31,423 shares during the period.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol FRA. The fund seeks to provide a high level of current income, while also considering preservation of capital, by investing primarily in floating-rate loans and other floating-rate debt instruments.

The fund’s portfolio may include senior secured loans, corporate debt securities and other income-producing investments issued by companies across a range of industries.