Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Drops By 35.1%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 366,786 shares, a drop of 35.1% from the November 30th total of 565,455 shares. Based on an average daily volume of 295,115 shares, the short-interest ratio is presently 1.2 days. Based on an average daily volume of 295,115 shares, the short-interest ratio is presently 1.2 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Large investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in 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 buying an additional 73,518 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 2nd quarter valued at about $250,000. Whitener Capital Management Inc. increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 2.7% in the 2nd quarter. Whitener Capital Management Inc. now owns 37,949 shares of the investment management company’s stock valued at $499,000 after purchasing an additional 1,000 shares in the last quarter. Future Financial Wealth Managment LLC raised its holdings in BlackRock Floating Rate Income Strategies Fund by 4.3% in the 2nd quarter. Future Financial Wealth Managment LLC now owns 34,357 shares of the investment management company’s stock worth $451,000 after purchasing an additional 1,403 shares during the period. Finally, Marathon Strategic Advisors LLC boosted its position in BlackRock Floating Rate Income Strategies Fund by 9.0% during the second quarter. Marathon Strategic Advisors LLC now owns 280,236 shares of the investment management company’s stock worth $3,682,000 after purchasing an additional 23,183 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Stock Up 1.1%

FRA opened at $11.86 on Friday. BlackRock Floating Rate Income Strategies Fund has a one year low of $10.90 and a one year high of $14.22. The stock’s 50 day moving average price is $12.04 and its 200-day moving average price is $12.74.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 22nd will be given a $0.1238 dividend. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date is Monday, December 22nd.

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.