BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Update
by Renee Jackson · The Cerbat GemBlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA – Get Free Report) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totaling 106,221 shares, a drop of 49.9% from the March 15th total of 212,097 shares. Based on an average daily trading volume, of 165,534 shares, the days-to-cover ratio is presently 0.6 days.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of the company. Arax Advisory Partners grew its holdings in BlackRock Floating Rate Income Strategies Fund by 3.1% during the fourth quarter. Arax Advisory Partners now owns 29,664 shares of the investment management company’s stock worth $349,000 after acquiring an additional 898 shares during the period. Klingman & Associates LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 2.8% during the third quarter. Klingman & Associates LLC now owns 45,048 shares of the investment management company’s stock worth $585,000 after acquiring an additional 1,248 shares during the period. Janney Montgomery Scott LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 8.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock worth $182,000 after acquiring an additional 1,248 shares during the period. CoreCap Advisors LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 24.2% during the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after acquiring an additional 1,500 shares during the period. Finally, Wagner Wealth Management LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 2.8% during the third quarter. Wagner Wealth Management LLC now owns 64,970 shares of the investment management company’s stock worth $843,000 after acquiring an additional 1,743 shares during the period.
BlackRock Floating Rate Income Strategies Fund Stock Performance
FRA stock traded down $0.03 during mid-day trading on Monday, reaching $11.03. The company had a trading volume of 126,169 shares, compared to its average volume of 206,105. BlackRock Floating Rate Income Strategies Fund has a one year low of $10.50 and a one year high of $13.41. The stock’s 50-day simple moving average is $11.15 and its two-hundred day simple moving average is $11.80.
BlackRock Floating Rate Income Strategies Fund Announces Dividend
The company also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a dividend of $0.1238 per share. This represents a c) dividend on an annualized basis and a yield of 13.5%. The ex-dividend date of this dividend is Monday, June 15th.
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.