BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Shares of BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $11.46 and traded as low as $11.12. BlackRock Floating Rate Income Strategies Fund shares last traded at $11.1350, with a volume of 105,370 shares trading hands.

BlackRock Floating Rate Income Strategies Fund Stock Up 0.3%

The business has a 50 day moving average of $11.01 and a 200-day moving average of $11.46.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.1238 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) dividend on an annualized basis and a yield of 13.3%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Institutional investors and hedge funds have recently bought and sold shares of the stock. Greykasell Wealth Strategies Inc. purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $39,000. Fifth Third Bancorp purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at approximately $44,000. CoreCap Advisors LLC lifted its stake in 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 buying an additional 1,500 shares in the last quarter. HighTower Advisors LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $123,000. Finally, Alpine Global Management LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund in the 4th quarter valued at approximately $131,000.

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.