BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Update

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant growth in short interest in 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 daily volume of 125,100 shares, the days-to-cover ratio is currently 1.8 days.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.4 %

Shares of NYSE FRA traded up $0.05 during midday trading on Friday, reaching $13.92. 116,170 shares of the company traded hands, compared to its average volume of 151,285. The stock’s 50-day simple moving average is $13.55 and its 200-day simple moving average is $13.28. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $11.82 and a 12 month high of $14.22.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FRA. Penserra Capital Management LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the 3rd quarter valued at $13,195,000. International Assets Investment Management LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund during the 3rd quarter worth about $18,990,000. Advisors Asset Management Inc. increased its position in BlackRock Floating Rate Income Strategies Fund by 19.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 362,930 shares of the investment management company’s stock valued at $4,791,000 after acquiring an additional 59,840 shares in the last quarter. Congress Park Capital LLC lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 33.3% during the second 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 in the last quarter. Finally, Edgemoor Investment Advisors Inc. grew its stake in shares of BlackRock Floating Rate Income Strategies Fund by 191.0% during the second quarter. Edgemoor Investment Advisors Inc. now owns 64,652 shares of the investment management company’s stock valued at $837,000 after purchasing an additional 42,437 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Company Profile

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.