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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 162,900 shares, a growth of 9.3% from the August 31st total of 149,000 shares. Based on an average daily trading volume, of 167,500 shares, the days-to-cover ratio is presently 1.0 days.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.3 %

BlackRock Floating Rate Income Strategies Fund stock traded up $0.04 during trading on Tuesday, hitting $13.24. The company had a trading volume of 150,306 shares, compared to its average volume of 154,547. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $11.45 and a 1-year high of $13.69. The company’s 50 day simple moving average is $13.10 and its 200-day simple moving average is $13.09.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.1238 dividend. The ex-dividend date is Tuesday, October 15th. This represents a $1.49 annualized dividend and a dividend yield of 11.22%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. 9258 Wealth Management LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 2.7% during the fourth quarter. 9258 Wealth Management LLC now owns 34,654 shares of the investment management company’s stock worth $439,000 after buying an additional 927 shares during the period. Jones Road Capital Management L.P. increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 59.8% in the fourth quarter. Jones Road Capital Management L.P. now owns 229,254 shares of the investment management company’s stock worth $2,902,000 after acquiring an additional 85,822 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in BlackRock Floating Rate Income Strategies Fund by 9.4% during the 1st quarter. Advisors Asset Management Inc. now owns 309,241 shares of the investment management company’s stock valued at $3,995,000 after purchasing an additional 26,446 shares in the last quarter. Future Financial Wealth Managment LLC grew its holdings in BlackRock Floating Rate Income Strategies Fund by 16.6% during the 1st quarter. Future Financial Wealth Managment LLC now owns 24,327 shares of the investment management company’s stock valued at $314,000 after purchasing an additional 3,471 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its stake in 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 valued at $218,000 after acquiring an additional 2,255 shares during the last quarter.

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.