BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Sees Significant Growth in Short Interest

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 162,900 shares, an increase of 9.3% from the August 31st total of 149,000 shares. Based on an average daily trading volume, of 167,500 shares, the days-to-cover ratio is currently 1.0 days.

BlackRock Floating Rate Income Strategies Fund Price Performance

BlackRock Floating Rate Income Strategies Fund stock traded up $0.04 during midday trading on Tuesday, hitting $13.24. 150,306 shares of the company’s stock were exchanged, compared to its average volume of 154,547. The stock has a 50-day moving average price of $13.10 and a two-hundred day moving average price of $13.09. BlackRock Floating Rate Income Strategies Fund has a 52-week low of $11.45 and a 52-week high of $13.69.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.1238 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 11.22%.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of FRA. DecisionPoint Financial LLC bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the first quarter valued at approximately $29,000. Cornerstone Wealth Group LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at $142,000. Hartline Investment Corp acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at $167,000. Virtu Financial LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at $173,000. Finally, B. Riley Wealth Advisors Inc. increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 15.0% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 17,279 shares of the investment management company’s stock valued at $218,000 after acquiring an additional 2,255 shares during the period.

About BlackRock Floating Rate Income Strategies Fund

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.