BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Breaks Below 200-Day Moving Average – Here’s Why

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)’s stock price passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $10.87 and traded as low as $10.16. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.2080, with a volume of 195,599 shares.

BlackRock Floating Rate Income Strategies Fund Price Performance

The firm’s 50-day simple moving average is $10.70 and its 200 day simple moving average is $10.87.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a $0.1238 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.49 annualized dividend and a dividend yield of 14.7%.

Institutional Trading of BlackRock Floating Rate Income Strategies Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in FRA. Absolute Investment Advisers LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the first quarter worth $1,204,000. Arkadios Wealth Advisors purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the first quarter valued at $647,000. Chicago Partners Investment Group LLC lifted its holdings 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 valued at $814,000 after purchasing an additional 31,423 shares during the last quarter. Marathon Strategic Advisors LLC boosted its position in shares of BlackRock Floating Rate Income Strategies Fund by 6.3% in the 1st quarter. Marathon Strategic Advisors LLC now owns 392,654 shares of the investment management company’s stock valued at $4,327,000 after purchasing an additional 23,411 shares during the period. Finally, Sanctuary Advisors LLC boosted its position in shares of BlackRock Floating Rate Income Strategies Fund by 38.3% in the 1st quarter. Sanctuary Advisors LLC now owns 68,301 shares of the investment management company’s stock valued at $753,000 after purchasing an additional 18,901 shares during the period.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income, with capital preservation as a secondary objective.

FRA invests primarily in floating-rate loans and other floating-rate debt instruments issued by companies and other borrowers. Its portfolio may include senior secured loans, corporate debt securities and other income-producing investments, including securities rated below investment grade.

The fund’s investments are generally focused on the U.S.