BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Crosses Above Fifty Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA)’s stock price passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.84 and traded as high as $11.98. BlackRock Floating Rate Income Strategies Fund shares last traded at $11.8650, with a volume of 234,509 shares changing hands.

BlackRock Floating Rate Income Strategies Fund Trading Down 0.8%

The company has a 50-day moving average price of $11.84 and a 200-day moving average price of $12.57.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th will be paid a $0.1238 dividend. This represents a c) annualized dividend and a yield of 12.5%. The ex-dividend date of this dividend is Friday, March 13th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Sound Income Strategies LLC bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 3rd quarter valued at $27,000. CoreCap Advisors LLC increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 24.2% in the fourth quarter. CoreCap Advisors LLC now owns 7,710 shares of the investment management company’s stock worth $91,000 after acquiring an additional 1,500 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the second quarter worth about $133,000. Envestnet Asset Management Inc. lifted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 5.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 17,585 shares of the investment management company’s stock valued at $231,000 after purchasing an additional 837 shares in the last quarter. Finally, Verus Capital Partners LLC grew its position in shares of BlackRock Floating Rate Income Strategies Fund by 20.0% in the 3rd quarter. Verus Capital Partners LLC now owns 18,000 shares of the investment management company’s stock valued at $234,000 after purchasing an additional 3,000 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.