BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Down 42.3% in June

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totaling 88,040 shares, a drop of 42.3% from the June 15th total of 152,564 shares. Based on an average daily volume of 142,303 shares, the days-to-cover ratio is currently 0.6 days.

BlackRock Floating Rate Income Strategies Fund Price Performance

Shares of NYSE FRA traded down $0.01 during trading on Thursday, hitting $10.79. 65,558 shares of the company traded hands, compared to its average volume of 170,281. The business’s fifty day moving average is $10.97 and its 200 day moving average is $11.23. BlackRock Floating Rate Income Strategies Fund has a fifty-two week low of $10.50 and a fifty-two week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company 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 $0.1238 dividend. The ex-dividend date is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 13.8%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of FRA. Greykasell Wealth Strategies Inc. bought a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at $39,000. Fifth Third Bancorp bought a new position in shares of BlackRock Floating Rate Income Strategies Fund in the first quarter valued at $44,000. CoreCap Advisors LLC grew its holdings in shares of 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 valued at $91,000 after buying an additional 1,500 shares during the last quarter. HighTower Advisors LLC bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the fourth quarter worth about $123,000. Finally, Alpine Global Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 4th 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.