BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Short Interest Up 9.3% in September

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 162,900 shares, an increase of 9.3% from the August 31st total of 149,000 shares. Based on an average daily trading volume, of 167,500 shares, the days-to-cover ratio is currently 1.0 days.

BlackRock Floating Rate Income Strategies Fund Price Performance

NYSE:FRA traded up $0.04 during mid-day trading on Tuesday, reaching $13.24. The stock had a trading volume of 150,306 shares, compared to its average volume of 154,547. BlackRock Floating Rate Income Strategies Fund has a twelve month low of $11.45 and a twelve month high of $13.69. The business has a 50 day simple moving average of $13.10 and a 200 day simple moving average of $13.09.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be given a $0.1238 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $1.49 dividend on an annualized basis and a yield of 11.22%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds have recently added to or reduced their stakes in the company. Klingman & Associates LLC lifted its position in BlackRock Floating Rate Income Strategies Fund by 2.9% in the second quarter. Klingman & Associates LLC now owns 26,786 shares of the investment management company’s stock valued at $347,000 after purchasing an additional 753 shares during the period. 9258 Wealth Management LLC lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 2.7% during the 4th quarter. 9258 Wealth Management LLC now owns 34,654 shares of the investment management company’s stock valued at $439,000 after acquiring an additional 927 shares during the period. Whitener Capital Management Inc. lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 4.3% during the 2nd quarter. Whitener Capital Management Inc. now owns 27,950 shares of the investment management company’s stock valued at $362,000 after acquiring an additional 1,150 shares during the period. Objective Capital Management LLC lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 8.9% during the 1st quarter. Objective Capital Management LLC now owns 18,509 shares of the investment management company’s stock valued at $239,000 after acquiring an additional 1,520 shares during the period. Finally, Andrew Hill Investment Advisors Inc. lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 5.0% during the 2nd quarter. Andrew Hill Investment Advisors Inc. now owns 37,495 shares of the investment management company’s stock valued at $485,000 after acquiring an additional 1,786 shares during the period.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.