BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Update

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

BlackRock Floating Rate Income Strategies Fund Price Performance

Shares of NYSE:FRA traded up $0.01 during midday trading on Thursday, hitting $10.91. The stock had a trading volume of 45,151 shares, compared to its average volume of 171,171. The business’s 50-day simple moving average is $11.02 and its 200-day simple moving average is $11.29. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $10.50 and a 12 month high of $13.41.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.1238 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 13.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of FRA. Readystate Asset Management LP bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at approximately $5,774,000. Balyasny Asset Management L.P. bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $2,772,000. GraniteShares Advisors LLC bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $2,707,000. Cerity Partners LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $2,533,000. Finally, Lalia Capital LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $2,093,000.

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.