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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 220,500 shares, a growth of 21.8% from the October 15th total of 181,100 shares. Based on an average trading volume of 125,100 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FRA. Penserra Capital Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 3rd quarter valued at about $13,195,000. Advisors Asset Management Inc. grew its position in BlackRock Floating Rate Income Strategies Fund by 19.7% in the third quarter. Advisors Asset Management Inc. now owns 362,930 shares of the investment management company’s stock worth $4,791,000 after acquiring an additional 59,840 shares in the last quarter. Congress Park Capital LLC increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 33.3% during the 2nd quarter. Congress Park Capital LLC now owns 217,985 shares of the investment management company’s stock worth $2,821,000 after purchasing an additional 54,466 shares during the last quarter. Graypoint LLC lifted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 2.8% in the 3rd quarter. Graypoint LLC now owns 182,625 shares of the investment management company’s stock valued at $2,411,000 after purchasing an additional 5,037 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 1.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 166,569 shares of the investment management company’s stock valued at $2,155,000 after purchasing an additional 2,072 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Performance

Shares of NYSE FRA traded up $0.05 during mid-day trading on Friday, reaching $13.92. The company had a trading volume of 116,170 shares, compared to its average volume of 151,285. The company has a 50-day moving average price of $13.55 and a two-hundred day moving average price of $13.28. BlackRock Floating Rate Income Strategies Fund has a 1-year low of $11.82 and a 1-year high of $14.22.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a $0.1238 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $1.49 dividend on an annualized basis and a dividend yield of 10.68%.

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.