Newgate Capital Management Lowers stake in BlackRock Floating Rate Income Strat. Fn (FRA)

BlackRock Floating Rate Income Strat. Fn (FRA) : Newgate Capital Management reduced its stake in BlackRock Floating Rate Income Strat. Fn by 23.72% during the most recent quarter end. The investment management company now holds a total of 113,428 shares of BlackRock Floating Rate Income Strat. Fn which is valued at $1,523,338 after selling 35,279 shares in BlackRock Floating Rate Income Strat. Fn , the firm said in a disclosure report filed with the SEC on Aug 3, 2016.BlackRock Floating Rate Income Strat. Fn makes up approximately 1.21% of Newgate Capital Management’s portfolio.

Other Hedge Funds, Including , Sg Americas Securities sold out all of its stake in FRA during the most recent quarter. The investment firm sold 49,986 shares of FRA which is valued $671,312.Provise Management Group boosted its stake in FRA in the latest quarter, The investment management firm added 25,163 additional shares and now holds a total of 106,914 shares of BlackRock Floating Rate Income Strat. Fn which is valued at $1,435,855. BlackRock Floating Rate Income Strat. Fn makes up approx 0.26% of Provise Management Group’s portfolio. James Investment Research Inc sold out all of its stake in FRA during the most recent quarter. The investment firm sold 8,700 shares of FRA which is valued $116,406.Creative Planning boosted its stake in FRA in the latest quarter, The investment management firm added 163 additional shares and now holds a total of 2,190 shares of BlackRock Floating Rate Income Strat. Fn which is valued at $29,193.Beacon Capital Management reduced its stake in FRA by selling 1,650 shares or 32.67% in the most recent quarter. The Hedge Fund company now holds 3,400 shares of FRA which is valued at $45,322.

BlackRock Floating Rate Income Strat. Fn (FRA) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $13.5 and reached the intraday high at $13.51. The bulls started the profit booking and pushed the shares to intraday low of $13.49. The trading session was marked by a volume range of 62,616 shares exchanging hands. The 52-week high of the shares is $13.53 and the 52-week low is $11.84. The market cap of the company stands at $245 M and there are 1,81,34,000 shares in public circulation.

BlackRock Floating Rate Income Strategies Fund Inc. (the Fund) is a diversified closed-end management investment company. The Fund’s investment objective is to provide shareholders with high current income and such preservation of capital as is consistent with investment in a diversified leveraged portfolio consisting primarily of floating rate debt securities and instruments. The Fund invests under normal market conditions at least 80% of its assets in floating rate debt securities including floating or variable rate debt securities that pay interest at rates that adjust whenever a specified interest rate changes and/or which reset on predetermined dates. It invests a portion of its investments in floating rate debt securities consisting of secured or unsecured senior floating rate loans that are rated below investment grade. It may invest directly in floating rate debt securities or synthetically through the use of derivatives. The Fund’s manager is BlackRock Advisors LLC.

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