Short Interest in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Drops By 24.1%

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 278,395 shares, a drop of 24.1% from the December 15th total of 366,786 shares. Based on an average daily trading volume, of 331,429 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 331,429 shares, the short-interest ratio is presently 0.8 days.

BlackRock Floating Rate Income Strategies Fund Trading Up 0.1%

Shares of FRA stock traded up $0.02 on Friday, reaching $12.10. 1,250,036 shares of the stock were exchanged, compared to its average volume of 366,112. BlackRock Floating Rate Income Strategies Fund has a one year low of $10.90 and a one year high of $13.41. The stock has a 50 day moving average price of $11.87 and a 200 day moving average price of $12.63.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be given a dividend of $0.1238 per share. The ex-dividend date is Friday, March 13th. This represents a c) dividend on an annualized basis and a yield of 12.3%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of institutional investors and hedge funds have recently modified their holdings of FRA. CoreCap Advisors LLC increased its stake in shares of BlackRock Floating Rate Income Strategies Fund by 24.2% in the 4th quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after acquiring an additional 1,500 shares during the last quarter. Byrne Asset Management LLC increased its stake in BlackRock Floating Rate Income Strategies Fund by 21,066.7% in 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. Wealth Enhancement Advisory Services LLC raised its holdings in BlackRock Floating Rate Income Strategies Fund by 37.8% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 25,629 shares of the investment management company’s stock worth $304,000 after purchasing an additional 7,025 shares during the period. Lido Advisors LLC boosted its position in shares of BlackRock Floating Rate Income Strategies Fund by 31.6% during the third quarter. Lido Advisors LLC now owns 31,473 shares of the investment management company’s stock worth $409,000 after purchasing an additional 7,565 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 3.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 181,082 shares of the investment management company’s stock valued at $2,331,000 after buying an additional 6,358 shares during the period.

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.