BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) Sees Large Growth in Short Interest

BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA) was the target of a large growth in short interest in May. As of May 28th, there was short interest totalling 158,300 shares, a growth of 799.4% from the May 13th total of 17,600 shares. Based on an average trading volume of 132,800 shares, the days-to-cover ratio is currently 1.2 days.

Large investors have recently bought and sold shares of the stock. GPS Wealth Strategies Group LLC acquired a new position in shares of BlackRock Floating Rate Income Strategies Fund during the 1st quarter valued at $26,000. Oder Investment Management LLC acquired a new position in BlackRock Floating Rate Income Strategies Fund in the 4th quarter worth $29,000. Harbour Investments Inc. acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at about $30,000. Ameritas Investment Company LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at about $32,000. Finally, Klingman & Associates LLC acquired a new stake in shares of BlackRock Floating Rate Income Strategies Fund in the 1st quarter valued at about $139,000.

Shares of NYSE:FRA traded down $0.04 during midday trading on Friday, hitting $12.86. 1,033 shares of the company’s stock traded hands, compared to its average volume of 180,494. The firm has a fifty day moving average price of $12.95. BlackRock Floating Rate Income Strategies Fund has a twelve month low of $11.01 and a twelve month high of $13.14.

The firm also recently announced a monthly dividend, which will be paid on Wednesday, June 30th. Investors of record on Tuesday, June 15th will be issued a dividend of $0.067 per share. The ex-dividend date is Monday, June 14th. This represents a $0.80 annualized dividend and a dividend yield of 6.25%.

About BlackRock Floating Rate Income Strategies Fund

BlackRock Floating Rate Income Strategies Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund invests in bonds of companies operating across diversified sectors.

Further Reading: What is Compound Annual Growth Rate (CAGR)?

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