BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.84 and traded as high as $11.98. BlackRock Floating Rate Income Strategies Fund shares last traded at $11.8650, with a volume of 234,509 shares traded.

BlackRock Floating Rate Income Strategies Fund Price Performance

The stock’s 50 day simple moving average is $11.84 and its two-hundred day simple moving average is $12.57.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.1238 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a c) annualized dividend and a yield of 12.5%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the third quarter valued at $27,000. CoreCap Advisors LLC lifted its position in BlackRock Floating Rate Income Strategies Fund by 24.2% during the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after purchasing an additional 1,500 shares during the period. International Assets Investment Management LLC bought a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 2nd quarter valued at about $133,000. Envestnet Asset Management Inc. grew its position in shares of BlackRock Floating Rate Income Strategies Fund by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,585 shares of the investment management company’s stock worth $231,000 after buying an additional 837 shares during the period. Finally, Verus Capital Partners LLC grew its position in shares of BlackRock Floating Rate Income Strategies Fund by 20.0% during the 3rd quarter. Verus Capital Partners LLC now owns 18,000 shares of the investment management company’s stock worth $234,000 after buying an additional 3,000 shares during the period.

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.