Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Rises By 105.8%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 122,316 shares, an increase of 105.8% from the April 30th total of 59,448 shares. Based on an average daily trading volume, of 108,580 shares, the days-to-cover ratio is currently 1.1 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of large investors have recently added to or reduced their stakes in FRA. Royal Bank of Canada raised its holdings in BlackRock Floating Rate Income Strategies Fund by 79.9% in the 1st quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock worth $2,139,000 after acquiring an additional 73,518 shares during the period. Baird Financial Group Inc. increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 130.3% in the second quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock worth $1,113,000 after purchasing an additional 47,946 shares during the period. Raymond James Financial Inc. increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% in the second quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock worth $2,984,000 after purchasing an additional 46,145 shares during the period. Jane Street Group LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 2nd quarter worth about $244,000. Finally, Edgemoor Investment Advisors Inc. boosted its stake in BlackRock Floating Rate Income Strategies Fund by 7.2% during the 3rd quarter. Edgemoor Investment Advisors Inc. now owns 201,353 shares of the investment management company’s stock valued at $2,614,000 after purchasing an additional 13,536 shares during the period.

BlackRock Floating Rate Income Strategies Fund Price Performance

NYSE FRA traded down $0.04 during trading on Monday, hitting $11.10. 94,982 shares of the company traded hands, compared to its average volume of 176,440. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $10.50 and a 12 month high of $13.41. The business has a fifty day simple moving average of $11.02 and a 200 day simple moving average of $11.44.

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.