BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 32.6% in March

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large increase in short interest in March. As of March 15th, there was short interest totalling 234,400 shares, an increase of 32.6% from the February 28th total of 176,800 shares. Based on an average daily trading volume, of 192,500 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several large investors have recently modified their holdings of FRA. Waverly Advisors LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at $449,000. CoreCap Advisors LLC boosted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 29.5% in the 4th quarter. CoreCap Advisors LLC now owns 10,710 shares of the investment management company’s stock valued at $147,000 after purchasing an additional 2,437 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 67.2% in the 4th quarter. Cetera Investment Advisers now owns 23,670 shares of the investment management company’s stock valued at $325,000 after purchasing an additional 9,512 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 9.8% in the 4th quarter. Bank of America Corp DE now owns 649,929 shares of the investment management company’s stock worth $8,937,000 after purchasing an additional 58,089 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 13.4% during the 4th quarter. Ameriprise Financial Inc. now owns 196,385 shares of the investment management company’s stock worth $2,700,000 after purchasing an additional 23,156 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Price Performance

Shares of NYSE:FRA traded down $0.05 during midday trading on Wednesday, reaching $12.82. 125,983 shares of the company’s stock were exchanged, compared to its average volume of 157,248. The company’s 50 day simple moving average is $12.97 and its two-hundred day simple moving average is $13.45. BlackRock Floating Rate Income Strategies Fund has a 12 month low of $12.16 and a 12 month high of $14.50.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were issued a dividend of $0.1238 per share. This represents a $1.49 dividend on an annualized basis and a yield of 11.59%. The ex-dividend date was Friday, March 14th.

About BlackRock Floating Rate Income Strategies Fund

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.