BlackRock Debt Strategies Fund (NYSE:DSU) Hits New 12-Month Low – What’s Next?

Shares of BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $8.54 and last traded at $8.5550, with a volume of 289,136 shares. The stock had previously closed at $8.65.

BlackRock Debt Strategies Fund Stock Performance

The business’s 50 day simple moving average is $9.13 and its 200-day simple moving average is $9.50.

BlackRock Debt Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a dividend of $0.0987 per share. This represents a $1.18 annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Friday, December 11th.

Institutional Trading of BlackRock Debt Strategies Fund

A number of institutional investors have recently bought and sold shares of the company. Kestra Advisory Services LLC boosted its position in BlackRock Debt Strategies Fund by 4.0% during the first quarter. Kestra Advisory Services LLC now owns 29,190 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 1,111 shares during the last quarter. CoreCap Advisors LLC increased its position in BlackRock Debt Strategies Fund by 49.3% in the 2nd quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 1,400 shares during the last quarter. PNC Financial Services Group Inc. increased its position in BlackRock Debt Strategies Fund by 5.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 42,504 shares of the financial services provider’s stock worth $408,000 after purchasing an additional 2,247 shares during the last quarter. Smith Asset Management Co. LLC increased its position in BlackRock Debt Strategies Fund by 1.2% in the 3rd quarter. Smith Asset Management Co. LLC now owns 196,494 shares of the financial services provider’s stock worth $1,768,000 after purchasing an additional 2,372 shares during the last quarter. Finally, Whipplewood Advisors LLC raised its stake in shares of BlackRock Debt Strategies Fund by 2.5% during the 1st quarter. Whipplewood Advisors LLC now owns 102,704 shares of the financial services provider’s stock worth $985,000 after purchasing an additional 2,457 shares in the last quarter. Institutional investors and hedge funds own 24.29% of the company’s stock.

About BlackRock Debt Strategies Fund

BlackRock Debt Strategies Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol DSU. The fund is managed by BlackRock Advisors, LLC, an indirect subsidiary of BlackRock, Inc, and is designed to provide investors with exposure to the leveraged loan and below-investment-grade debt markets.

The fund seeks to generate a high level of current income, with capital appreciation as a secondary objective. It invests primarily in senior secured floating-rate loans and other debt obligations issued by companies, including securities rated below investment grade or considered comparable to such securities.