Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Rises By 66.2%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 100,589 shares, an increase of 66.2% from the July 30th total of 60,531 shares. Based on an average daily volume of 160,647 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Greykasell Wealth Strategies Inc. acquired a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $39,000. Fifth Third Bancorp acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 1st quarter worth approximately $44,000. HighTower Advisors LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at approximately $123,000. Alpine Global Management LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at approximately $131,000. Finally, Janney Montgomery Scott LLC grew its stake in BlackRock Floating Rate Income Strategies Fund by 8.8% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock valued at $182,000 after acquiring an additional 1,248 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.5%

FRA stock traded up $0.06 during midday trading on Monday, hitting $11.13. 275,874 shares of the stock traded hands, compared to its average volume of 166,950. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $10.50 and a 1-year high of $13.41. The stock’s fifty day simple moving average is $10.87 and its 200-day simple moving average is $11.00.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1238 per share. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.4%.

About BlackRock Floating Rate Income Strategies Fund

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.