BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Sees Significant Drop in Short-Term Interest


BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA – Get Rating) experienced a significant drop in short-term interest rates in April. As of April 30, there was short interest totaling 61,600 shares, down 28.6% from the total of 86,300 shares as of April 15. Based on an average daily volume of 167,200 shares, the short interest ratio is currently 0.4 days.

NYSE FRA opened at $11.40 on Friday. The company has a fifty-day moving average of $12.71 and a 200-day moving average of $13.24. The BlackRock Floating Rate Income Strategies Fund has a 1-year low of $11.29 and a 1-year high of $14.46.

The company also recently announced a monthly dividend, which will be paid on Tuesday, May 31. Shareholders of record on Monday, May 16 will receive a dividend of $0.0667. The ex-dividend date is Friday, May 13. This represents a dividend of $0.80 on an annualized basis and a yield of 7.02%.

A number of institutional investors and hedge funds have recently increased or reduced their stake in FRA. Geneos Wealth Management Inc. increased its holdings in BlackRock Floating Rate Income Strategies Fund by 80.4% in the fourth quarter. Geneos Wealth Management Inc. now owns 3,607 shares of the investment management company valued at $48,000 after buying 1,607 additional shares last quarter. Segantii Capital Management Ltd bought a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $52,000. Future Financial Wealth Managment LLC bought a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $85,000. Koshinski Asset Management Inc. increased its holdings of BlackRock Floating Rate Income Strategies Fund by 42.1% in the fourth quarter. Koshinski Asset Management Inc. now owns 6,732 shares of the investment management company valued at $90,000 after buying 1,993 additional shares last quarter. Finally, Brookstone Capital Management bought a new position in BlackRock Floating Rate Income Strategies Fund in the first quarter worth $132,000.

About the BlackRock Floating Rate Income Strategies Fund (Get a rating)

BlackRock Floating Rate Income Strategies Fund, Inc is a closed-end fixed income mutual fund launched by BlackRock, Inc. The fund is managed by BlackRock Advisors, LLC. It invests in US bond markets. The fund invests in corporate bonds operating in diversified sectors.

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