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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 152,564 shares, a growth of 100.6% from the May 31st total of 76,048 shares. Based on an average daily trading volume, of 152,648 shares, the short-interest ratio is currently 1.0 days.

BlackRock Floating Rate Income Strategies Fund Trading Down 0.6%

Shares of BlackRock Floating Rate Income Strategies Fund stock traded down $0.07 on Wednesday, hitting $10.92. 169,482 shares of the company traded hands, compared to its average volume of 172,193. BlackRock Floating Rate Income Strategies Fund has a 12-month low of $10.50 and a 12-month high of $13.41. The company has a 50-day moving average price of $11.02 and a 200 day moving average price of $11.29.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company 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 is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a yield of 13.6%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Greykasell Wealth Strategies Inc. bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $39,000. Fifth Third Bancorp bought a new position in BlackRock Floating Rate Income Strategies Fund during the first quarter valued at approximately $44,000. CoreCap Advisors LLC lifted its stake in 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 acquiring an additional 1,500 shares during the last quarter. HighTower Advisors LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $123,000. Finally, Alpine Global Management LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth approximately $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.