BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Share Price Passes Below Two Hundred Day Moving Average – Here’s Why

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.19 and traded as low as $10.93. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.96, with a volume of 136,184 shares trading hands.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.2%

The stock’s fifty day simple moving average is $11.65 and its 200 day simple moving average is $12.19.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.1238 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 13.6%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC purchased a new position in BlackRock Floating Rate Income Strategies Fund during the third quarter worth about $27,000. Greykasell Wealth Strategies Inc. acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter worth $39,000. CoreCap Advisors LLC increased its stake in BlackRock Floating Rate Income Strategies Fund by 24.2% during the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after acquiring an additional 1,500 shares during the last quarter. HighTower Advisors LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at $123,000. Finally, Alpine Global Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at $131,000.

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.