BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Down 60.3% in April

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 59,448 shares, a drop of 60.3% from the April 15th total of 149,761 shares. Based on an average daily volume of 135,461 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Readystate Asset Management LP bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $5,774,000. Marathon Strategic Advisors LLC boosted its stake in BlackRock Floating Rate Income Strategies Fund by 6.3% in the 1st quarter. Marathon Strategic Advisors LLC now owns 392,654 shares of the investment management company’s stock valued at $4,327,000 after purchasing an additional 23,411 shares during the period. Invesco Ltd. boosted its stake in BlackRock Floating Rate Income Strategies Fund by 5.4% in the 4th quarter. Invesco Ltd. now owns 374,050 shares of the investment management company’s stock valued at $4,406,000 after purchasing an additional 19,089 shares during the period. Raymond James Financial Inc. boosted its stake in BlackRock Floating Rate Income Strategies Fund by 42.4% in the 3rd quarter. Raymond James Financial Inc. now owns 323,357 shares of the investment management company’s stock valued at $4,197,000 after purchasing an additional 96,273 shares during the period. Finally, Edgemoor Investment Advisors Inc. boosted its stake in BlackRock Floating Rate Income Strategies Fund by 47.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock valued at $3,489,000 after purchasing an additional 94,860 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Down 1.4%

FRA stock traded down $0.16 during mid-day trading on Friday, reaching $11.06. The company had a trading volume of 164,551 shares, compared to its average volume of 184,335. The stock has a 50 day simple moving average of $10.99 and a two-hundred day simple moving average of $11.55. BlackRock Floating Rate Income Strategies Fund has a 52 week low of $10.50 and a 52 week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.4%. The ex-dividend date is Monday, June 15th.

BlackRock Floating Rate Income Strategies Fund Company Profile

BlackRock Floating Rate Income Strategies Fund (NYSE: FRA) is a diversified, closed-end management investment company managed by BlackRock Fund Advisors. The fund primarily seeks to provide current income by investing in floating rate debt instruments, with a focus on senior secured loans and other bank-originated credit facilities. As a publicly traded vehicle, FRA offers investors exposure to a portfolio of floating rate assets designed to adjust coupon payments in response to changes in benchmark interest rates.

In constructing its portfolio, the fund typically allocates a significant portion of its assets to U.S.