Wolverine Asset Management LLC Makes New Investment in BlackRock Floating Rate Income Strategies Fund, Inc. $FRA

Wolverine Asset Management LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) during the fourth quarter, HoldingsChannel reports. The institutional investor acquired 79,798 shares of the investment management company’s stock, valued at approximately $940,000.

A number of other large investors have also added to or reduced their stakes in FRA. Royal Bank of Canada increased its stake in BlackRock Floating Rate Income Strategies Fund by 79.9% in the 1st quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock worth $2,139,000 after acquiring an additional 73,518 shares during the last quarter. Baird Financial Group Inc. increased its stake in BlackRock Floating Rate Income Strategies Fund by 130.3% in the 2nd quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock worth $1,113,000 after acquiring an additional 47,946 shares during the last quarter. Raymond James Financial Inc. raised its position in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% during the 2nd quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock valued at $2,984,000 after buying an additional 46,145 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 2nd quarter valued at about $244,000. Finally, Klingman & Associates LLC raised its position in shares of BlackRock Floating Rate Income Strategies Fund by 2.8% during the 3rd quarter. Klingman & Associates LLC now owns 45,048 shares of the investment management company’s stock valued at $585,000 after buying an additional 1,248 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Performance

Shares of NYSE FRA opened at $11.14 on Thursday. The firm’s 50-day moving average price is $11.00 and its 200-day moving average price is $11.61. BlackRock Floating Rate Income Strategies Fund, Inc. 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 firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be given a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Monday, June 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.