BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.01 and traded as low as $10.90. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.92, with a volume of 114,102 shares trading hands.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company has a 50-day moving average price of $10.87 and a 200-day moving average price of $11.00.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

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

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several institutional investors have recently modified their holdings of FRA. Greykasell Wealth Strategies Inc. bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at about $39,000. Fifth Third Bancorp acquired a new position in BlackRock Floating Rate Income Strategies Fund during the first quarter valued at approximately $44,000. HighTower Advisors LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $123,000. Alpine Global Management LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $131,000. Finally, Janney Montgomery Scott LLC raised its holdings in BlackRock Floating Rate Income Strategies Fund by 8.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock worth $182,000 after purchasing an additional 1,248 shares during the period.

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.