BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Down 40.3% in January
by Doug Wharley · The Cerbat GemBlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA – Get Free Report) saw a significant decrease in short interest in January. As of January 15th, there was short interest totaling 166,165 shares, a decrease of 40.3% from the December 31st total of 278,395 shares. Based on an average daily volume of 277,781 shares, the short-interest ratio is presently 0.6 days. Based on an average daily volume of 277,781 shares, the short-interest ratio is presently 0.6 days.
Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund
Institutional investors and hedge funds have recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 3rd quarter valued at about $27,000. CoreCap Advisors LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 24.2% in the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after buying an additional 1,500 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the second quarter worth about $133,000. Envestnet Asset Management Inc. increased its position in BlackRock Floating Rate Income Strategies Fund by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,585 shares of the investment management company’s stock worth $231,000 after purchasing an additional 837 shares during the period. Finally, Verus Capital Partners LLC boosted its holdings in BlackRock Floating Rate Income Strategies Fund by 20.0% during the third quarter. Verus Capital Partners LLC now owns 18,000 shares of the investment management company’s stock worth $234,000 after buying an additional 3,000 shares in the last quarter.
BlackRock Floating Rate Income Strategies Fund Stock Down 0.3%
Shares of FRA traded down $0.04 during mid-day trading on Friday, hitting $11.76. 190,405 shares of the company’s stock were exchanged, compared to its average volume of 272,380. BlackRock Floating Rate Income Strategies Fund has a fifty-two week low of $10.90 and a fifty-two week high of $13.41. The stock’s 50-day moving average is $11.84 and its 200-day moving average is $12.53.
BlackRock Floating Rate Income Strategies Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Investors of record on Friday, March 13th will be paid a dividend of $0.1238 per share. This represents a c) dividend on an annualized basis and a dividend yield of 12.6%. The ex-dividend date is Friday, March 13th.
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.