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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 541,000 shares, a growth of 41.9% from the November 30th total of 381,300 shares. Based on an average daily trading volume, of 138,900 shares, the short-interest ratio is currently 3.9 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Cornerstone Advisors LLC bought a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 3rd quarter worth about $140,000. Eastern Bank acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the third quarter worth approximately $145,000. Objective Capital Management LLC acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the third quarter worth approximately $206,000. EP Wealth Advisors LLC bought a new stake in BlackRock Floating Rate Income Strategies Fund in the third quarter worth approximately $276,000. Finally, Klingman & Associates LLC lifted its stake in BlackRock Floating Rate Income Strategies Fund by 2.9% in the second quarter. Klingman & Associates LLC now owns 26,786 shares of the investment management company’s stock valued at $347,000 after buying an additional 753 shares during the period.

BlackRock Floating Rate Income Strategies Fund Trading Down 1.1 %

Shares of FRA stock traded down $0.15 on Monday, hitting $13.90. The company had a trading volume of 195,444 shares, compared to its average volume of 151,436. BlackRock Floating Rate Income Strategies Fund has a twelve month low of $12.15 and a twelve month high of $14.50. The stock’s 50-day moving average is $14.01 and its two-hundred day moving average is $13.47.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which was paid on Monday, December 23rd. Shareholders of record on Monday, December 16th were given a dividend of $0.1238 per share. This represents a $1.49 dividend on an annualized basis and a yield of 10.69%. The ex-dividend date of this dividend was Monday, December 16th.

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.