BlackRock Debt Strategies Fund (NYSE:DSU) Hits New 12-Month Low - Here's Why

Key Points

• BlackRock Debt Strategies Fund (NYSE: DSU) fell to a new 52-week low of $9.07, closing at $9.0850 and trading below its 50-day and 200-day moving averages.
• The fund announced a monthly dividend of $0.0987 per share, equivalent to an annualized yield of approximately 13.0%; the ex-dividend date is December 11.
• Institutional investors own 24.29% of DSU, with several advisory firms recently increasing their stakes or initiating new positions.

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU - Get Free Report)'s stock price reached a new 52-week low during trading on Monday . The company traded as low as $9.07 and last traded at $9.0850, with a volume of 193597 shares trading hands. The stock had previously closed at $9.12.

BlackRock Debt Strategies Fund Trading Down 0.4%

The stock has a fifty day simple moving average of $9.42 and a two-hundred day simple moving average of $9.64.

BlackRock Debt Strategies Fund Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be paid a dividend of $0.0987 per share. The ex-dividend date of this dividend is Friday, December 11th. This represents a c) annualized dividend and a yield of 13.0%.

Hedge Funds Weigh In On BlackRock Debt Strategies Fund

A number of institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC increased its stake in shares of BlackRock Debt Strategies Fund by 49.3% in the 2nd quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider's stock valued at $41,000 after acquiring an additional 1,400 shares in the last quarter. IFP Advisors Inc grew its holdings in BlackRock Debt Strategies Fund by 67.7% in the fourth quarter. IFP Advisors Inc now owns 5,085 shares of the financial services provider's stock worth $52,000 after purchasing an additional 2,052 shares during the period. Matrix Private Capital Group LLC acquired a new stake in BlackRock Debt Strategies Fund in the first quarter worth $96,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in BlackRock Debt Strategies Fund in the second quarter valued at $98,000. Finally, Ameritas Advisory Services LLC bought a new stake in BlackRock Debt Strategies Fund in the second quarter valued at $109,000. 24.29% of the stock is currently owned by institutional investors.

About BlackRock Debt Strategies Fund

BlackRock Debt Strategies Fund, Inc NYSE: DSU is a closed-end investment fund managed by BlackRock Advisors, LLC. The fund seeks to provide a high level of current income and, to a lesser extent, capital appreciation by investing primarily in debt securities and other income-producing investments.

Its portfolio generally focuses on below-investment-grade corporate debt, including senior secured and floating-rate loans. These investments are typically issued by companies across a range of industries and may include loans and other debt instruments that rank senior to a company's common equity and certain other obligations.

The fund is designed to provide shareholders with access to a professionally managed portfolio of corporate credit investments.

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