Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Drops By 46.1%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 179,687 shares, a drop of 46.1% from the February 12th total of 333,356 shares. Based on an average daily trading volume, of 202,001 shares, the short-interest ratio is currently 0.9 days. Based on an average daily trading volume, of 202,001 shares, the short-interest ratio is currently 0.9 days.

BlackRock Floating Rate Income Strategies Fund Trading Down 0.8%

FRA traded down $0.09 on Thursday, hitting $10.96. 201,901 shares of the stock traded hands, compared to its average volume of 223,170. BlackRock Floating Rate Income Strategies Fund has a 52 week low of $10.81 and a 52 week high of $13.41. The business has a fifty day moving average price of $11.64 and a two-hundred day moving average price of $12.18.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be issued a dividend of $0.1238 per share. This represents a c) annualized dividend and a dividend yield of 13.6%. The ex-dividend date of this dividend is Monday, June 15th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FRA. Sound Income Strategies LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 3rd quarter worth about $27,000. Greykasell Wealth Strategies Inc. acquired a new position in BlackRock Floating Rate Income Strategies Fund in the fourth quarter valued at about $39,000. CoreCap Advisors LLC grew its stake in BlackRock Floating Rate Income Strategies Fund by 24.2% during the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after buying 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 fourth quarter worth about $123,000. Finally, Alpine Global Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the fourth quarter worth approximately $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.