Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Declines By 37.8%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 76,048 shares, a drop 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 presently 0.7 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Hedge funds and other institutional investors have recently modified their holdings of the stock. Readystate Asset Management LP bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $5,774,000. Marathon Strategic Advisors LLC increased its position in BlackRock Floating Rate Income Strategies Fund by 6.3% in the first quarter. Marathon Strategic Advisors LLC now owns 392,654 shares of the investment management company’s stock worth $4,327,000 after purchasing an additional 23,411 shares during the last quarter. Invesco Ltd. increased its position in BlackRock Floating Rate Income Strategies Fund by 5.4% in the fourth quarter. Invesco Ltd. now owns 374,050 shares of the investment management company’s stock worth $4,406,000 after purchasing an additional 19,089 shares during the last quarter. Raymond James Financial Inc. lifted its position in BlackRock Floating Rate Income Strategies Fund by 42.4% in the third quarter. Raymond James Financial Inc. now owns 323,357 shares of the investment management company’s stock worth $4,197,000 after buying an additional 96,273 shares during the last quarter. Finally, Edgemoor Investment Advisors Inc. raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 47.1% in the fourth quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock valued at $3,489,000 after acquiring an additional 94,860 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Down 0.2%

FRA traded down $0.03 during trading on Tuesday, hitting $10.85. The company’s stock had a trading volume of 107,133 shares, compared to its average volume of 174,272. BlackRock Floating Rate Income Strategies Fund has a one year low of $10.50 and a one year high of $13.41. The business’s 50 day simple moving average is $11.06 and its 200-day simple moving average is $11.35.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Tuesday, September 15th.

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.