BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Share Price Passes Below 200 Day Moving Average – Here’s What Happened

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $11.18 and traded as low as $10.74. BlackRock Floating Rate Income Strategies Fund shares last traded at $10.7450, with a volume of 97,643 shares changing hands.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company has a 50-day moving average price of $10.93 and a 200 day moving average price of $11.18.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business 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. The ex-dividend date is Tuesday, September 15th. This represents a c) dividend on an annualized basis and a dividend yield of 13.8%.

Institutional Investors Weigh In On BlackRock Floating Rate Income Strategies Fund

Several large investors have recently added to or reduced their stakes in the stock. Arax Advisory Partners grew its position in BlackRock Floating Rate Income Strategies Fund by 3.1% during the 4th quarter. Arax Advisory Partners now owns 29,664 shares of the investment management company’s stock worth $349,000 after purchasing an additional 898 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of BlackRock Floating Rate Income Strategies Fund by 8.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock valued at $182,000 after buying an additional 1,248 shares in the last quarter. Klingman & Associates LLC raised its position in shares of BlackRock Floating Rate Income Strategies Fund by 3.1% during the 4th quarter. Klingman & Associates LLC now owns 46,456 shares of the investment management company’s stock worth $547,000 after purchasing an additional 1,408 shares during the last quarter. CoreCap Advisors LLC raised 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 purchasing an additional 1,500 shares during the last quarter. Finally, Wagner Wealth Management LLC raised its holdings in BlackRock Floating Rate Income Strategies Fund by 3.2% in the 1st quarter. Wagner Wealth Management LLC now owns 57,401 shares of the investment management company’s stock valued at $633,000 after acquiring an additional 1,789 shares during the last quarter.

BlackRock Floating Rate Income Strategies Fund Company Profile

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.