BlackRock Floating Rate Income Strategies Fund, Inc. (NYSE:FRA – Get Free Report) declared a monthly dividend on Thursday, September 10th. Stockholders of record on Thursday, October 15th will be given a dividend of 0.1238 per share by the investment management company on Friday, October 30th. This represents a c) annualized dividend and a dividend yield of 13.8%. The ex-dividend date is Thursday, October 15th.
BlackRock Floating Rate Income Strategies Fund Price Performance
FRA stock opened at $10.76 on Friday. The firm has a 50-day simple moving average of $10.88 and a two-hundred day simple moving average of $10.96. BlackRock Floating Rate Income Strategies Fund has a one year low of $10.50 and a one year high of $13.29.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in FRA. Lalia Capital LLC purchased a new position in shares of BlackRock Floating Rate Income Strategies Fund in the fourth quarter worth $2,093,000. Edgemoor Investment Advisors Inc. raised its stake in BlackRock Floating Rate Income Strategies Fund by 47.1% in the 4th quarter. Edgemoor Investment Advisors Inc. now owns 296,213 shares of the investment management company’s stock worth $3,489,000 after acquiring an additional 94,860 shares during the last quarter. Arkadios Wealth Advisors acquired a new stake in BlackRock Floating Rate Income Strategies Fund during the 1st quarter worth about $647,000. Absolute Investment Advisers LLC purchased a new stake in BlackRock Floating Rate Income Strategies Fund during the 1st quarter valued at about $1,204,000. Finally, Schwarz Dygos Wheeler Investment Advisors LLC increased its holdings in shares of BlackRock Floating Rate Income Strategies Fund by 6.7% in the fourth quarter. Schwarz Dygos Wheeler Investment Advisors LLC now owns 88,334 shares of the investment management company’s stock valued at $1,041,000 after purchasing an additional 5,553 shares during the period.
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.
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