BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 357.3% in July

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large growth in short interest in July. As of July 31st, there was short interest totalling 417,100 shares, a growth of 357.3% from the July 15th total of 91,200 shares. Based on an average daily volume of 171,100 shares, the days-to-cover ratio is presently 2.4 days.

BlackRock Floating Rate Income Strategies Fund Stock Performance

Shares of FRA remained flat at $13.06 during midday trading on Tuesday. The stock had a trading volume of 31,172 shares, compared to its average volume of 161,337. BlackRock Floating Rate Income Strategies Fund has a 1 year low of $11.45 and a 1 year high of $13.69. The business has a 50-day moving average price of $13.18 and a 200-day moving average price of $13.03.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, August 30th. Shareholders of record on Thursday, August 15th will be given a dividend of $0.1238 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $1.49 annualized dividend and a yield of 11.38%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of FRA. DecisionPoint Financial LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund during the first quarter worth about $29,000. Benjamin F. Edwards & Company Inc. bought a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $47,000. Koshinski Asset Management Inc. purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $131,000. Cornerstone Wealth Group LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter worth about $142,000. Finally, Avior Wealth Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at about $152,000.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.