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

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU)’s share price reached a new 52-week low during trading on Tuesday. The stock traded as low as $8.85 and last traded at $8.9150, with a volume of 61750 shares changing hands. The stock had previously closed at $8.88.

BlackRock Debt Strategies Fund Stock Up 0.5%

The business’s 50 day moving average price is $9.35 and its two-hundred day moving average price is $9.61.

BlackRock Debt Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be given a $0.0987 dividend. This represents a $1.18 dividend on an annualized basis and a yield of 13.3%. The ex-dividend date is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Debt Strategies Fund

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DSU. Bank of America Corp DE raised its stake in shares of BlackRock Debt Strategies Fund by 8.8% in the 1st quarter. Bank of America Corp DE now owns 507,223 shares of the financial services provider’s stock worth $4,864,000 after buying an additional 41,216 shares in the last quarter. Elevated Capital Advisors LLC lifted its holdings in shares of BlackRock Debt Strategies Fund by 11.8% in the first quarter. Elevated Capital Advisors LLC now owns 455,494 shares of the financial services provider’s stock valued at $4,368,000 after buying an additional 48,214 shares during the period. Greenup Street Wealth Management LLC lifted its holdings in shares of 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. PMG Family Office LLC boosted its stake in BlackRock Debt Strategies Fund by 23.2% during 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 buying an additional 28,346 shares in the last quarter. Finally, Royal Bank of Canada boosted its stake in BlackRock Debt Strategies Fund by 3.2% during the first quarter. Royal Bank of Canada now owns 125,758 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 3,958 shares in the last quarter. 24.29% of the stock is owned by institutional investors.

About BlackRock Debt Strategies Fund

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.