BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Declares $0.12 Monthly Dividend

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) declared a monthly dividend on Friday, January 2nd. Stockholders of record on Friday, February 13th will be given a dividend of 0.1238 per share by the investment management company on Friday, February 27th. This represents a c) annualized dividend and a dividend yield of 12.7%. The ex-dividend date of this dividend is Friday, February 13th.

BlackRock Floating Rate Income Strategies Fund Price Performance

FRA stock opened at $11.74 on Wednesday. The firm has a 50 day simple moving average of $11.82 and a 200-day simple moving average of $12.46. BlackRock Floating Rate Income Strategies Fund has a twelve month low of $10.90 and a twelve month high of $13.41.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of FRA. Sound Income Strategies LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund in the third quarter worth about $27,000. CoreCap Advisors LLC raised its stake in BlackRock Floating Rate Income Strategies Fund by 24.2% during the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock valued at $91,000 after buying an additional 1,500 shares in the last quarter. HighTower Advisors LLC bought a new position in BlackRock Floating Rate Income Strategies Fund during the 4th quarter worth approximately $123,000. International Assets Investment Management LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 2nd quarter worth approximately $133,000. Finally, Envestnet Asset Management Inc. grew its position in shares of BlackRock Floating Rate Income Strategies Fund by 5.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 17,585 shares of the investment management company’s stock worth $231,000 after acquiring an additional 837 shares in the last quarter.

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.