BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Declares $0.12 Monthly Dividend

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) declared a monthly dividend on Friday, February 27th. Stockholders of record on Friday, May 15th will be given a dividend of 0.1238 per share by the investment management company on Friday, May 29th. This represents a c) annualized dividend and a dividend yield of 13.3%. The ex-dividend date is Friday, May 15th.

BlackRock Floating Rate Income Strategies Fund Price Performance

Shares of FRA opened at $11.13 on Wednesday. The business’s 50 day moving average price is $10.99 and its 200-day moving average price is $11.57. BlackRock Floating Rate Income Strategies Fund has a 52 week low of $10.50 and a 52 week high of $13.41.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds have recently added to or reduced their stakes in FRA. Greykasell Wealth Strategies Inc. bought a new position in shares of BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at $39,000. Fifth Third Bancorp purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the 1st quarter valued at about $44,000. CoreCap Advisors LLC grew 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 last quarter. HighTower Advisors LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund during the 4th quarter valued at about $123,000. Finally, Alpine Global Management LLC purchased a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth about $131,000.

About BlackRock Floating Rate Income Strategies Fund

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.