BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.85 and traded as low as $10.91. BlackRock Floating Rate Income Strategies Fund shares last traded at $11.0150, with a volume of 126,921 shares traded.

BlackRock Floating Rate Income Strategies Fund Trading Up 0.9%

The company has a fifty day moving average price of $11.21 and a 200 day moving average price of $11.85.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.1238 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a dividend yield of 13.5%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FRA. Royal Bank of Canada boosted its stake in BlackRock Floating Rate Income Strategies Fund by 79.9% in the first quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock worth $2,139,000 after buying an additional 73,518 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of BlackRock Floating Rate Income Strategies Fund by 130.3% during the second quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock worth $1,113,000 after acquiring an additional 47,946 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% in the 2nd quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock worth $2,984,000 after acquiring an additional 46,145 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 2nd quarter worth approximately $244,000. Finally, TT Capital Management LLC lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.6% in the 2nd quarter. TT Capital Management LLC now owns 181,279 shares of the investment management company’s stock worth $2,382,000 after acquiring an additional 6,278 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Company Profile

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.