LPL Financial LLC Buys 32,916 Shares of BlackRock Debt Strategies Fund, Inc. (NYSE:DSU)

Key Points

• LPL Financial LLC increased its holdings in BlackRock Debt Strategies Fund by 6.3% during the first quarter, owning approximately $5.77 million worth of shares.
• BlackRock Debt Strategies Fund announced a $0.0987 monthly dividend, resulting in an annualized yield of 11.2%, payable to shareholders on August 29.
• Several institutional investors have also increased their stakes in the fund, with Guggenheim Capital LLC raising its holdings by 43.5% in the previous quarter.

LPL Financial LLC increased its holdings in shares of BlackRock Debt Strategies Fund, Inc. (NYSE:DSU - Free Report) by 6.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 552,974 shares of the financial services provider's stock after purchasing an additional 32,916 shares during the quarter. LPL Financial LLC owned approximately 1.02% of BlackRock Debt Strategies Fund worth $5,773,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. grew its position in shares of BlackRock Debt Strategies Fund by 17.5% during the fourth quarter. Ameriprise Financial Inc. now owns 248,135 shares of the financial services provider's stock worth $2,670,000 after purchasing an additional 36,960 shares in the last quarter. Bank of America Corp DE grew its position in shares of BlackRock Debt Strategies Fund by 4.6% during the fourth quarter. Bank of America Corp DE now owns 331,786 shares of the financial services provider's stock worth $3,570,000 after purchasing an additional 14,679 shares in the last quarter. Armis Advisers LLC purchased a new stake in shares of BlackRock Debt Strategies Fund during the fourth quarter worth about $683,000. Raymond James Financial Inc. purchased a new stake in shares of BlackRock Debt Strategies Fund during the fourth quarter worth about $2,635,000. Finally, Wells Fargo & Company MN boosted its stake in BlackRock Debt Strategies Fund by 7.7% during the fourth quarter. Wells Fargo & Company MN now owns 276,362 shares of the financial services provider's stock valued at $2,974,000 after buying an additional 19,737 shares during the last quarter. Hedge funds and other institutional investors own 24.29% of the company's stock.

BlackRock Debt Strategies Fund Price Performance

BlackRock Debt Strategies Fund stock traded down $0.06 during midday trading on Friday, reaching $10.52. 165,281 shares of the stock traded hands, compared to its average volume of 250,514. The stock's fifty day moving average is $10.53 and its 200-day moving average is $10.45. BlackRock Debt Strategies Fund, Inc. has a 12 month low of $8.72 and a 12 month high of $11.19.

BlackRock Debt Strategies Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.0987 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a c) dividend on an annualized basis and a yield of 11.3%.

BlackRock Debt Strategies Fund Profile

BlackRock Debt Strategies Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets of the United States. The fund primarily invests in a diversified portfolio of companies' debt instruments, including corporate loans, which are rated in the lower rating categories of the established rating services (BBB or lower by S&P's or Baa or lower by Moody's) or unrated debt instruments, which are in the judgment of the investment adviser of equivalent quality.