BlackRock Debt Strategies Fund, Inc. (DSU) Major Shareholder Saba Capital Management, L.P. Sells 47,672 Shares

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) major shareholder Saba Capital Management, L.P. sold 47,672 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $11.73, for a total value of $559,192.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

BlackRock Debt Strategies Fund, Inc. (NYSE DSU) traded up $0.02 during mid-day trading on Friday, hitting $11.70. The stock had a trading volume of 173,675 shares, compared to its average volume of 349,044. BlackRock Debt Strategies Fund, Inc. has a 52 week low of $11.23 and a 52 week high of $11.85.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Friday, December 29th will be given a dividend of $0.0685 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.82 annualized dividend and a dividend yield of 7.03%.

Several hedge funds have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its holdings in BlackRock Debt Strategies Fund by 8.1% during the third quarter. Parametric Portfolio Associates LLC now owns 1,495,055 shares of the financial services provider’s stock worth $17,447,000 after acquiring an additional 112,540 shares in the last quarter. JPMorgan Chase & Co. raised its stake in BlackRock Debt Strategies Fund by 1.7% in the third quarter. JPMorgan Chase & Co. now owns 1,446,877 shares of the financial services provider’s stock valued at $16,784,000 after buying an additional 24,611 shares during the period. Sit Investment Associates Inc. raised its stake in BlackRock Debt Strategies Fund by 9.9% in the third quarter. Sit Investment Associates Inc. now owns 1,063,384 shares of the financial services provider’s stock valued at $12,410,000 after buying an additional 96,015 shares during the period. Citigroup Inc. raised its stake in BlackRock Debt Strategies Fund by 11.2% in the second quarter. Citigroup Inc. now owns 564,853 shares of the financial services provider’s stock valued at $6,519,000 after buying an additional 57,019 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in BlackRock Debt Strategies Fund by 9.3% in the third quarter. Advisors Asset Management Inc. now owns 402,561 shares of the financial services provider’s stock valued at $4,698,000 after buying an additional 34,251 shares during the period. 39.52% of the stock is owned by institutional investors.

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About BlackRock Debt Strategies Fund

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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