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

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

BlackRock Floating Rate Income Strategies Fund Price Performance

The company’s 50-day moving average price is $11.02 and its 200-day moving average price is $11.45.

Hedge Funds Weigh In On BlackRock Floating Rate Income Strategies Fund

Several hedge funds and other institutional investors have recently modified their holdings of FRA. Arax Advisory Partners grew its position in BlackRock Floating Rate Income Strategies Fund by 3.1% in the 4th quarter. Arax Advisory Partners now owns 29,664 shares of the investment management company’s stock valued at $349,000 after acquiring an additional 898 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of BlackRock Floating Rate Income Strategies Fund by 8.8% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,482 shares of the investment management company’s stock worth $182,000 after purchasing an additional 1,248 shares in the last quarter. Klingman & Associates LLC boosted its stake in shares of BlackRock Floating Rate Income Strategies Fund by 3.1% in the fourth quarter. Klingman & Associates LLC now owns 46,456 shares of the investment management company’s stock valued at $547,000 after purchasing an additional 1,408 shares during the period. CoreCap Advisors LLC grew 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 valued at $91,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Wagner Wealth Management LLC increased its stake in BlackRock Floating Rate Income Strategies Fund by 3.2% during the 1st quarter. Wagner Wealth Management LLC now owns 57,401 shares of the investment management company’s stock worth $633,000 after buying an additional 1,789 shares during the period.

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.