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

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $9.30 and last traded at $9.3050, with a volume of 60966 shares trading hands. The stock had previously closed at $9.32.

BlackRock Debt Strategies Fund Price Performance

The firm has a 50-day simple moving average of $9.46 and a two-hundred day simple moving average of $9.66.

BlackRock Debt Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.0987 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a dividend yield of 13.0%.

Hedge Funds Weigh In On BlackRock Debt Strategies Fund

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Elevated Capital Advisors LLC boosted its position in shares of BlackRock Debt Strategies Fund by 11.8% in the 1st quarter. Elevated Capital Advisors LLC now owns 455,494 shares of the financial services provider’s stock worth $4,368,000 after purchasing an additional 48,214 shares during the last quarter. Bank of America Corp DE increased its holdings in BlackRock Debt Strategies Fund by 8.8% in the first quarter. Bank of America Corp DE now owns 507,223 shares of the financial services provider’s stock valued at $4,864,000 after purchasing an additional 41,216 shares during the last quarter. PMG Family Office LLC increased its holdings in BlackRock Debt Strategies Fund by 23.2% in the first quarter. PMG Family Office LLC now owns 150,356 shares of the financial services provider’s stock valued at $1,442,000 after purchasing an additional 28,346 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new position in BlackRock Debt Strategies Fund in the fourth quarter valued at about $255,000. Finally, Greenup Street Wealth Management LLC lifted its stake in BlackRock Debt Strategies Fund by 7.7% in the first quarter. Greenup Street Wealth Management LLC now owns 293,125 shares of the financial services provider’s stock valued at $2,811,000 after buying an additional 21,014 shares during the period. Institutional investors own 24.29% of the company’s stock.

BlackRock Debt Strategies Fund Company Profile

BlackRock Debt Strategies Fund, Inc (NYSE: DSU) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income and, to a lesser extent, capital appreciation by investing primarily in debt securities and other income-producing investments.

Its portfolio generally focuses on below-investment-grade corporate debt, including senior secured and floating-rate loans. These investments are typically issued by companies across a range of industries and may include loans and other debt instruments that rank senior to a company’s common equity and certain other obligations.

The fund is designed to provide shareholders with access to a professionally managed portfolio of corporate credit investments.