Absolute Investment Advisers LLC Invests $1.20 Million in BlackRock Floating Rate Income Strategies Fund, Inc. $FRA

Absolute Investment Advisers LLC bought a new position in BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) during the first quarter, Holdings Channel reports. The firm bought 109,230 shares of the investment management company’s stock, valued at approximately $1,204,000.

Several other hedge funds have also modified their holdings of FRA. Royal Bank of Canada lifted its position in BlackRock Floating Rate Income Strategies Fund by 79.9% during the first quarter. Royal Bank of Canada now owns 165,544 shares of the investment management company’s stock valued at $2,139,000 after purchasing an additional 73,518 shares during the last quarter. Baird Financial Group Inc. raised its position in BlackRock Floating Rate Income Strategies Fund by 130.3% during the second quarter. Baird Financial Group Inc. now owns 84,741 shares of the investment management company’s stock valued at $1,113,000 after purchasing an additional 47,946 shares during the period. Raymond James Financial Inc. lifted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 25.5% in the 2nd quarter. Raymond James Financial Inc. now owns 227,084 shares of the investment management company’s stock valued at $2,984,000 after purchasing an additional 46,145 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the 2nd quarter worth approximately $244,000. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 30.6% in the 3rd quarter. Insigneo Advisory Services LLC now owns 23,580 shares of the investment management company’s stock worth $306,000 after purchasing an additional 5,530 shares during the period.

BlackRock Floating Rate Income Strategies Fund Stock Performance

NYSE:FRA opened at $10.86 on Monday. The stock’s fifty day moving average is $11.03 and its 200 day moving average is $11.30. BlackRock Floating Rate Income Strategies Fund, Inc. has a fifty-two week low of $10.50 and a fifty-two week high of $13.41.

BlackRock Floating Rate Income Strategies Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a $0.1238 dividend. This represents a c) annualized dividend and a dividend yield of 13.7%. The ex-dividend date is Tuesday, September 15th.

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.