Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Drops By 60.3%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 59,448 shares, a decline of 60.3% from the April 15th total of 149,761 shares. Based on an average trading volume of 135,461 shares, the days-to-cover ratio is presently 0.4 days.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.1%

NYSE FRA traded up $0.02 on Thursday, hitting $11.23. 57,933 shares of the company were exchanged, compared to its average volume of 184,105. The firm has a 50 day moving average of $10.99 and a two-hundred day moving average of $11.56. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $10.50 and a 1-year high of $13.41.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be given a dividend of $0.1238 per share. The ex-dividend date is Monday, June 15th. This represents a c) annualized dividend and a yield of 13.2%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Arax Advisory Partners lifted its position in BlackRock Floating Rate Income Strategies Fund by 3.1% during the 4th quarter. Arax Advisory Partners now owns 29,664 shares of the investment management company’s stock worth $349,000 after buying an additional 898 shares in the last quarter. Klingman & Associates LLC lifted its holdings in BlackRock Floating Rate Income Strategies Fund by 2.8% during the 3rd quarter. Klingman & Associates LLC now owns 45,048 shares of the investment management company’s stock worth $585,000 after buying an additional 1,248 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in BlackRock Floating Rate Income Strategies Fund by 8.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock worth $182,000 after buying an additional 1,248 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in BlackRock Floating Rate Income Strategies Fund by 24.2% during the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after buying an additional 1,500 shares in the last quarter. Finally, Wagner Wealth Management LLC lifted its holdings in BlackRock Floating Rate Income Strategies Fund by 3.2% during the 1st quarter. Wagner Wealth Management LLC now owns 57,401 shares of the investment management company’s stock worth $633,000 after buying an additional 1,789 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund (NYSE: FRA) is a diversified, closed-end management investment company managed by BlackRock Fund Advisors. The fund primarily seeks to provide current income by investing in floating rate debt instruments, with a focus on senior secured loans and other bank-originated credit facilities. As a publicly traded vehicle, FRA offers investors exposure to a portfolio of floating rate assets designed to adjust coupon payments in response to changes in benchmark interest rates.

In constructing its portfolio, the fund typically allocates a significant portion of its assets to U.S.