Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Drops By 7.4%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large decrease in short interest during the month of September. As of September 30th, there was short interest totalling 150,900 shares, a decrease of 7.4% from the September 15th total of 162,900 shares. Based on an average daily trading volume, of 164,500 shares, the days-to-cover ratio is presently 0.9 days.

BlackRock Floating Rate Income Strategies Fund Price Performance

NYSE:FRA opened at $13.59 on Friday. The firm has a fifty day simple moving average of $13.15 and a 200 day simple moving average of $13.14. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $11.45 and a 1-year high of $13.78.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.1238 per share. The ex-dividend date is Tuesday, October 15th. This represents a $1.49 annualized dividend and a dividend yield of 10.94%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

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

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.