BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Price Passes Below 200-Day Moving Average – Here’s What Happened

by · The Markets Daily

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA – Get Free Report)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.19 and traded as low as $10.93. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.96, with a volume of 136,184 shares trading hands.

BlackRock Floating Rate Income Strategies Fund Stock Down 0.8%

The company has a 50 day moving average price of $11.62 and a 200 day moving average price of $12.18.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be given a $0.1238 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 13.6%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cetera Investment Advisers raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 146.1% in the 2nd quarter. Cetera Investment Advisers now owns 106,965 shares of the investment management company’s stock valued at $1,406,000 after acquiring an additional 63,507 shares during the period. Allworth Financial LP purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 2nd quarter worth approximately $250,000. Marathon Strategic Advisors LLC increased its holdings in BlackRock Floating Rate Income Strategies Fund by 18.1% in the 3rd quarter. Marathon Strategic Advisors LLC now owns 330,896 shares of the investment management company’s stock valued at $4,295,000 after purchasing an additional 50,660 shares during the last quarter. Guggenheim Capital LLC increased its holdings in BlackRock Floating Rate Income Strategies Fund by 13.2% in the 2nd quarter. Guggenheim Capital LLC now owns 1,444,837 shares of the investment management company’s stock valued at $18,985,000 after purchasing an additional 168,986 shares during the last quarter. Finally, Insigneo Advisory Services LLC raised its position in BlackRock Floating Rate Income Strategies Fund by 59.9% in the second quarter. Insigneo Advisory Services LLC now owns 18,050 shares of the investment management company’s stock valued at $237,000 after purchasing an additional 6,763 shares during the period.

BlackRock Floating Rate Income Strategies Fund Company Profile

(Get Free Report)

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.

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