BlackRock Floating Rate Income Strategies Fund (NYSE:FRA) Stock Price Down 0.9% – What’s Next?

Shares of BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) dropped 0.9% on Thursday. The stock traded as low as $10.17 and last traded at $10.1950. 96,149 shares changed hands during mid-day trading, a decline of 42% from the average daily volume of 166,514 shares. The stock had previously closed at $10.29.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company’s 50-day moving average is $10.37 and its two-hundred day moving average is $10.88.

BlackRock Floating Rate Income Strategies Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Friday, December 11th will be paid a $0.1238 dividend. This represents a $1.49 dividend on an annualized basis and a yield of 14.6%. The ex-dividend date of this dividend is Friday, December 11th.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Arkadios Wealth Advisors bought a new stake in shares of BlackRock Floating Rate Income Strategies Fund during the 1st quarter worth $647,000. GraniteShares Advisors LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 1.6% in the third quarter. GraniteShares Advisors LLC now owns 240,961 shares of the investment management company’s stock worth $2,540,000 after acquiring an additional 3,726 shares in the last quarter. Chicago Partners Investment Group LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 75.5% in the first quarter. Chicago Partners Investment Group LLC now owns 73,057 shares of the investment management company’s stock worth $814,000 after acquiring an additional 31,423 shares in the last quarter. CoreCap Advisors LLC grew its position in BlackRock Floating Rate Income Strategies Fund by 154.9% in the second quarter. CoreCap Advisors LLC now owns 19,145 shares of the investment management company’s stock worth $210,000 after acquiring an additional 11,635 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in BlackRock Floating Rate Income Strategies Fund by 3.1% in the first quarter. Cetera Investment Advisers now owns 149,418 shares of the investment management company’s stock valued at $1,647,000 after acquiring an additional 4,555 shares during the last quarter.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE: FRA) is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income and, to a lesser extent, capital appreciation by investing primarily in floating-rate loans and other floating-rate debt instruments. FRA focuses largely on senior secured loans issued by companies, including borrowers with below-investment-grade credit ratings. These loans generally have interest rates that adjust periodically based on changes in reference rates, which may help reduce interest-rate sensitivity compared with fixed-rate debt.