BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Stock Short Interest Falls 53.3%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large drop in short interest during the month of September. As of September 15th, there was short interest totaling 64,422 shares, a drop of 53.3% from the August 31st total of 137,927 shares. Based on an average daily volume of 125,665 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of large investors have recently made changes to their positions in the stock. Greykasell Wealth Strategies Inc. purchased a new position in BlackRock Floating Rate Income Strategies Fund in the 4th quarter worth $39,000. Fifth Third Bancorp purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the 1st quarter valued at about $44,000. Alpine Global Management LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $131,000. CoreCap Advisors LLC increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 154.9% in the second quarter. CoreCap Advisors LLC now owns 19,145 shares of the investment management company’s stock valued at $210,000 after purchasing an additional 11,635 shares during the period. Finally, Klingman & Associates LLC raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 3.3% in the first quarter. Klingman & Associates LLC now owns 48,010 shares of the investment management company’s stock worth $529,000 after purchasing an additional 1,554 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Up 1.2%

NYSE:FRA traded up $0.12 during trading hours on Tuesday, hitting $10.56. 263,552 shares of the company were exchanged, compared to its average volume of 164,729. BlackRock Floating Rate Income Strategies Fund has a 52-week low of $10.37 and a 52-week high of $13.04. The company’s 50 day moving average price is $10.82 and its 200-day moving average price is $10.91.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business 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 dividend of $0.1238 per share. This represents a $1.49 annualized dividend and a dividend yield of 14.1%. The ex-dividend date is Friday, December 11th.

About BlackRock Floating Rate Income Strategies Fund

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.