BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Sees Large Drop in Short Interest

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 76,048 shares, a decline of 37.8% from the May 14th total of 122,316 shares. Based on an average daily volume of 104,292 shares, the short-interest ratio is currently 0.7 days.

Institutional Trading of BlackRock Floating Rate Income Strategies Fund

Several hedge funds have recently bought and sold shares of FRA. Readystate Asset Management LP bought a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at about $5,774,000. Balyasny Asset Management L.P. purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $2,772,000. GraniteShares Advisors LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $2,707,000. Cerity Partners LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $2,533,000. Finally, Lalia Capital LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $2,093,000.

BlackRock Floating Rate Income Strategies Fund Price Performance

NYSE:FRA opened at $10.99 on Monday. The stock has a 50-day simple moving average of $11.06 and a two-hundred day simple moving average of $11.37. BlackRock Floating Rate Income Strategies Fund has a 52-week low of $10.50 and a 52-week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.1238 per share. This represents a c) annualized dividend and a yield of 13.5%. The ex-dividend date of this dividend is Tuesday, September 15th.

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.