BlackRock Debt Strategies Fund (NYSE:DSU) Sets New 12-Month Low – Here’s What Happened

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU)’s stock price reached a new 52-week low during mid-day trading on Thursday. The stock traded as low as $8.54 and last traded at $8.5550, with a volume of 289,136 shares traded. The stock had previously closed at $8.65.

BlackRock Debt Strategies Fund Trading Down 0.9%

The firm has a fifty day simple moving average of $9.09 and a 200-day simple moving average of $9.49.

BlackRock Debt Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be paid a dividend of $0.0987 per share. This represents a $1.18 annualized dividend and a dividend yield of 13.9%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Debt Strategies Fund

Several hedge funds have recently added to or reduced their stakes in the company. CoreCap Advisors LLC grew its position in shares of BlackRock Debt Strategies Fund by 49.3% during the 2nd quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider’s stock worth $41,000 after buying an additional 1,400 shares during the period. Matrix Private Capital Group LLC bought a new position in BlackRock Debt Strategies Fund in the first quarter valued at approximately $96,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new position in BlackRock Debt Strategies Fund in the second quarter valued at approximately $98,000. Ameritas Advisory Services LLC bought a new position in BlackRock Debt Strategies Fund in the second quarter valued at approximately $109,000. Finally, Cyndeo Wealth Partners LLC acquired a new stake in BlackRock Debt Strategies Fund during the 3rd quarter worth $135,000. Institutional investors own 24.29% of the company’s stock.

About BlackRock Debt Strategies Fund

BlackRock Debt Strategies Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol DSU. The fund is managed by BlackRock Advisors, LLC, an indirect subsidiary of BlackRock, Inc, and is designed to provide investors with exposure to the leveraged loan and below-investment-grade debt markets.

The fund seeks to generate a high level of current income, with capital appreciation as a secondary objective. It invests primarily in senior secured floating-rate loans and other debt obligations issued by companies, including securities rated below investment grade or considered comparable to such securities.