Waterfront Wealth Inc. Cuts Holdings in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)

Waterfront Wealth Inc. reduced its holdings in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) by 18.2% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 33,186 shares of the investment management company’s stock after selling 7,402 shares during the quarter. Waterfront Wealth Inc.’s holdings in BlackRock Floating Rate Income Strategies Fund were worth $429,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FRA. Klingman & Associates LLC lifted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 2.9% in the second quarter. Klingman & Associates LLC now owns 26,786 shares of the investment management company’s stock valued at $347,000 after purchasing an additional 753 shares during the period. 9258 Wealth Management LLC increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 2.7% in the fourth quarter. 9258 Wealth Management LLC now owns 34,654 shares of the investment management company’s stock valued at $439,000 after buying an additional 927 shares in the last quarter. Whitener Capital Management Inc. raised its position in BlackRock Floating Rate Income Strategies Fund by 4.3% during the second quarter. Whitener Capital Management Inc. now owns 27,950 shares of the investment management company’s stock worth $362,000 after acquiring an additional 1,150 shares during the last quarter. Objective Capital Management LLC increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 8.9% during the 1st quarter. Objective Capital Management LLC now owns 18,509 shares of the investment management company’s stock worth $239,000 after purchasing an additional 1,520 shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. lifted its stake in BlackRock Floating Rate Income Strategies Fund by 5.0% in the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 37,495 shares of the investment management company’s stock valued at $485,000 after buying an additional 1,786 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Price Performance

BlackRock Floating Rate Income Strategies Fund stock opened at $13.05 on Monday. BlackRock Floating Rate Income Strategies Fund, Inc. has a fifty-two week low of $11.45 and a fifty-two week high of $13.69. The stock has a fifty day moving average of $13.15 and a two-hundred day moving average of $13.05.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Friday, August 30th. Investors of record on Thursday, August 15th were given a dividend of $0.1238 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $1.49 dividend on an annualized basis and a yield of 11.39%.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.