BlackRock Debt Strategies Fund, Inc. (DSU) Reaches New 1-Year High on Insider Buying Activity
BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) reached a new 52-week high during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $10.70 and last traded at $10.70, with a volume of 86,700 shares. The stock had previously closed at $10.56.
Specifically, major shareholder Saba Capital Management, L.P. acquired 301,800 shares of BlackRock Debt Strategies Fund stock in a transaction on Monday, September 26th. The shares were acquired at an average price of $3.60 per share, with a total value of $1,086,480.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider James Keenan acquired 50,000 shares of BlackRock Debt Strategies Fund stock in a transaction on Monday, November 14th. The stock was purchased at an average cost of $3.47 per share, for a total transaction of $173,500.00. Following the purchase, the insider now owns 147,666 shares in the company, valued at $512,401.02. The disclosure for this purchase can be found here.
The stock has a 50 day moving average price of $3.80 and a 200-day moving average price of $3.65. The stock’s market cap is $2.02 billion.
BlackRock Debt Strategies Fund Company Profile
BlackRock Debt Strategies Fund, Inc is a diversified, closed-end management investment company. The Fund’s primary investment objective is to provide current income by investing primarily in a diversified portfolio of the United States companies’ debt instruments, including corporate loans, which are rated in the lower rating categories of the established rating services or unrated debt instruments.
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