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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a significant growth in short interest in the month of June. As of June 15th, there was short interest totaling 152,564 shares, a growth of 100.6% from the May 31st total of 76,048 shares. Based on an average daily volume of 152,648 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of BlackRock Floating Rate Income Strategies Fund

Institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 79.9% during the first quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock valued at $2,139,000 after acquiring an additional 73,518 shares during the period. Baird Financial Group Inc. lifted its position in BlackRock Floating Rate Income Strategies Fund by 130.3% in the second quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock worth $1,113,000 after purchasing an additional 47,946 shares during the period. Raymond James Financial Inc. boosted its stake in BlackRock Floating Rate Income Strategies Fund by 25.5% during the 2nd quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock valued at $2,984,000 after purchasing an additional 46,145 shares in the last quarter. Jane Street Group LLC bought a new position in BlackRock Floating Rate Income Strategies Fund during the 2nd quarter valued at $244,000. Finally, Insigneo Advisory Services LLC boosted its stake in BlackRock Floating Rate Income Strategies Fund by 30.6% during the 3rd quarter. Insigneo Advisory Services LLC now owns 23,580 shares of the investment management company’s stock valued at $306,000 after purchasing an additional 5,530 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Performance

FRA stock traded up $0.07 during trading on Tuesday, hitting $10.97. The company had a trading volume of 175,576 shares, compared to its average volume of 172,215. The business has a 50 day moving average of $11.03 and a 200 day moving average of $11.29. BlackRock Floating Rate Income Strategies Fund has a fifty-two week low of $10.50 and a fifty-two week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.1238 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a yield of 13.5%.

About BlackRock Floating Rate Income Strategies Fund

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.