BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Shares Down 0.9% – What’s Next?

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)’s stock price fell 0.9% on Thursday. The company traded as low as $10.17 and last traded at $10.1950. 96,149 shares were traded during mid-day trading, a decline of 42% from the average session volume of 166,514 shares. The stock had previously closed at $10.29.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company has a 50 day simple moving average of $10.37 and a 200-day simple moving average of $10.88.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a dividend of $0.1238 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.49 annualized dividend and a dividend yield of 14.6%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp purchased a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at $44,000. CoreCap Advisors LLC grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 154.9% during the 2nd quarter. CoreCap Advisors LLC now owns 19,145 shares of the investment management company’s stock valued at $210,000 after purchasing an additional 11,635 shares during the last quarter. Kestra Advisory Services LLC grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 10.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 23,761 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 2,279 shares during the last quarter. Klingman & Associates LLC grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.3% during the 1st quarter. Klingman & Associates LLC now owns 48,010 shares of the investment management company’s stock valued at $529,000 after purchasing an additional 1,554 shares during the last quarter. Finally, Lido Advisors LLC raised its position in BlackRock Floating Rate Income Strategies Fund by 88.6% in the 3rd quarter. Lido Advisors LLC now owns 59,373 shares of the investment management company’s stock worth $626,000 after purchasing an additional 27,900 shares during the period.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income and, to a lesser extent, capital appreciation by investing primarily in floating-rate loans and other floating-rate debt instruments. FRA focuses largely on senior secured loans issued by companies, including borrowers with below-investment-grade credit ratings. These loans generally have interest rates that adjust periodically based on changes in reference rates, which may help reduce interest-rate sensitivity compared with fixed-rate debt.