BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)’s stock price crossed below its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $10.85 and traded as low as $10.03. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.0850, with a volume of 216,277 shares.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company’s fifty day moving average is $10.61 and its two-hundred day moving average is $10.84.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.1238 per share. This represents a $1.49 annualized dividend and a dividend yield of 15.0%. The ex-dividend date is Friday, December 11th.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several institutional investors and hedge funds have recently modified their holdings of FRA. Fifth Third Bancorp acquired a new position in BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at about $44,000. CoreCap Advisors LLC boosted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 154.9% in the second quarter. CoreCap Advisors LLC now owns 19,145 shares of the investment management company’s stock valued at $210,000 after purchasing an additional 11,635 shares during the period. Klingman & Associates LLC boosted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 3.3% in the first quarter. Klingman & Associates LLC now owns 48,010 shares of the investment management company’s stock valued at $529,000 after purchasing an additional 1,554 shares during the period. Wagner Wealth Management LLC grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.2% in the first quarter. Wagner Wealth Management LLC now owns 57,401 shares of the investment management company’s stock valued at $633,000 after purchasing an additional 1,789 shares in the last quarter. Finally, Arkadios Wealth Advisors acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the first quarter valued at approximately $647,000.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income, with capital preservation as a secondary objective.

FRA invests primarily in floating-rate loans and other floating-rate debt instruments issued by companies and other borrowers. Its portfolio may include senior secured loans, corporate debt securities and other income-producing investments, including securities rated below investment grade.

The fund’s investments are generally focused on the U.S.