BlackRock Debt Strategies Fund (NYSE:DSU) Hits New 1-Year Low - Here's What Happened

Key Points

• BlackRock Debt Strategies Fund (DSU) fell to a new 52-week low of $8.54, trading below its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0987, equivalent to approximately $1.18 annually and a 13.8% yield; the ex-dividend date is December 11.
• Institutional investors and hedge funds own 24.29% of DSU, with several firms recently increasing their positions.

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU - Get Free Report)'s share price reached a new 52-week low on Thursday. The stock traded as low as $8.54 and last traded at $8.5550, with a volume of 289,136 shares traded. The stock had previously closed at $8.65.

BlackRock Debt Strategies Fund Trading Down 0.6%

The stock's fifty day moving average price is $9.13 and its 200-day moving average price is $9.50.

BlackRock Debt Strategies Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a $0.0987 dividend. The ex-dividend date of this dividend is Friday, December 11th. This represents a $1.18 dividend on an annualized basis and a yield of 13.8%.

Institutional Trading of BlackRock Debt Strategies Fund

Several large investors have recently added to or reduced their stakes in the company. CoreCap Advisors LLC raised its position in BlackRock Debt Strategies Fund by 49.3% during the second quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider's stock valued at $41,000 after buying an additional 1,400 shares during the period. NewEdge Advisors LLC lifted its stake in BlackRock Debt Strategies Fund by 4.5% in the 1st quarter. NewEdge Advisors LLC now owns 88,428 shares of the financial services provider's stock worth $848,000 after acquiring an additional 3,787 shares in the last quarter. Royal Bank of Canada boosted its position in BlackRock Debt Strategies Fund by 3.2% during the 1st quarter. Royal Bank of Canada now owns 125,758 shares of the financial services provider's stock worth $1,206,000 after acquiring an additional 3,958 shares during the period. Cetera Investment Advisers boosted its position in BlackRock Debt Strategies Fund by 2.6% during the 1st quarter. Cetera Investment Advisers now owns 112,618 shares of the financial services provider's stock worth $1,080,000 after acquiring an additional 2,882 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in BlackRock Debt Strategies Fund by 5.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 42,504 shares of the financial services provider's stock worth $408,000 after acquiring an additional 2,247 shares during the period. 24.29% of the stock is owned by institutional investors and hedge funds.

BlackRock Debt Strategies Fund Company Profile

BlackRock Debt Strategies Fund, Inc is a closed-end investment company listed on the New York Stock Exchange under the symbol DSU. The fund is managed by BlackRock Advisors, LLC, an indirect subsidiary of BlackRock, Inc, and is designed to provide investors with exposure to the leveraged loan and below-investment-grade debt markets.

The fund seeks to generate a high level of current income, with capital appreciation as a secondary objective. It invests primarily in senior secured floating-rate loans and other debt obligations issued by companies, including securities rated below investment grade or considered comparable to such securities.

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