BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Shares Cross Below 200 Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) shares passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.18 and traded as low as $10.74. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.7450, with a volume of 97,643 shares.

BlackRock Floating Rate Income Strategies Fund Trading Up 0.3%

The business has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.18.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 30th. Investors 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) dividend on an annualized basis and a yield of 13.8%.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several institutional investors have recently bought and sold shares of FRA. Arax Advisory Partners increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.1% in the 4th quarter. Arax Advisory Partners now owns 29,664 shares of the investment management company’s stock worth $349,000 after buying an additional 898 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of BlackRock Floating Rate Income Strategies Fund by 8.8% during the 4th quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock valued at $182,000 after buying an additional 1,248 shares in the last quarter. Klingman & Associates LLC lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.1% in the 4th quarter. Klingman & Associates LLC now owns 46,456 shares of the investment management company’s stock valued at $547,000 after acquiring an additional 1,408 shares during the last quarter. CoreCap Advisors LLC lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 24.2% in the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Wagner Wealth Management LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 3.2% in the first quarter. Wagner Wealth Management LLC now owns 57,401 shares of the investment management company’s stock worth $633,000 after acquiring an additional 1,789 shares in the last quarter.

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.