Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Increases By 32.6%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 234,400 shares, an increase of 32.6% from the February 28th total of 176,800 shares. Based on an average daily trading volume, of 192,500 shares, the short-interest ratio is presently 1.2 days.

Institutional Trading of BlackRock Floating Rate Income Strategies Fund

Several hedge funds have recently added to or reduced their stakes in FRA. Guggenheim Capital LLC lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 37.8% during the fourth quarter. Guggenheim Capital LLC now owns 1,101,323 shares of the investment management company’s stock worth $15,143,000 after buying an additional 302,183 shares during the last quarter. TT Capital Management LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at $2,493,000. Raymond James Financial Inc. bought a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at $1,957,000. Mercer Global Advisors Inc. ADV grew its position in BlackRock Floating Rate Income Strategies Fund by 574.4% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 80,422 shares of the investment management company’s stock worth $1,106,000 after purchasing an additional 68,497 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 9.8% during the 4th quarter. Bank of America Corp DE now owns 649,929 shares of the investment management company’s stock worth $8,937,000 after purchasing an additional 58,089 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Performance

FRA traded down $0.05 during trading on Wednesday, hitting $12.82. The stock had a trading volume of 125,983 shares, compared to its average volume of 157,248. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $12.16 and a 12 month high of $14.50. The company has a 50 day simple moving average of $12.97 and a 200-day simple moving average of $13.45.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a $0.1238 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 11.59%.

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.