Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Expands By 105.8%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 122,316 shares, a growth of 105.8% from the April 30th total of 59,448 shares. Based on an average daily trading volume, of 108,580 shares, the days-to-cover ratio is currently 1.1 days.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several institutional investors have recently bought and sold shares of FRA. GraniteShares Advisors LLC purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $2,707,000. Shaker Financial Services LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at $749,000. Wolverine Asset Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the fourth quarter valued at $940,000. Edgemoor Investment Advisors Inc. raised its stake in BlackRock Floating Rate Income Strategies Fund by 47.1% during the fourth quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock valued at $3,489,000 after purchasing an additional 94,860 shares in the last quarter. Finally, Byrne Asset Management LLC raised its stake in BlackRock Floating Rate Income Strategies Fund by 21,066.7% during the fourth quarter. Byrne Asset Management LLC now owns 95,250 shares of the investment management company’s stock valued at $1,122,000 after purchasing an additional 94,800 shares in the last quarter.

BlackRock Floating Rate Income Strategies Fund Trading Down 0.0%

Shares of NYSE:FRA traded down $0.00 during mid-day trading on Tuesday, reaching $11.09. 117,845 shares of the company traded hands, compared to its average volume of 176,094. The company’s 50 day moving average price is $11.03 and its 200-day moving average price is $11.43. BlackRock Floating Rate Income Strategies Fund has a 52 week low of $10.50 and a 52 week high of $13.41.

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.