BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 18.0% in March

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 212,097 shares, a growth of 18.0% from the February 26th total of 179,687 shares. Based on an average daily volume of 232,517 shares, the days-to-cover ratio is currently 0.9 days.

BlackRock Floating Rate Income Strategies Fund Stock Up 3.6%

FRA stock traded up $0.38 during trading on Tuesday, reaching $10.99. The company had a trading volume of 277,136 shares, compared to its average volume of 214,668. BlackRock Floating Rate Income Strategies Fund has a twelve month low of $10.50 and a twelve month high of $13.41. The firm has a 50-day simple moving average of $11.31 and a 200-day simple moving average of $11.93.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.5%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds have recently made changes to their positions in FRA. Sound Income Strategies LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the 3rd quarter worth about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $39,000. CoreCap Advisors LLC increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,500 shares during the period. HighTower Advisors LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth about $123,000. Finally, Alpine Global Management LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth about $131,000.

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.