BlackRock Debt Strategies Fund (NYSE:DSU) Reaches New 12-Month Low - Time to Sell?

Key Points

• BlackRock Debt Strategies Fund shares hit a new 52-week low, trading as low as $9.30 and down 0.3% from the prior close. The price was below both its 50-day ($9.48) and 200-day ($9.67) moving averages.
• The fund declared a monthly dividend of $0.0987 per share, payable December 22 to shareholders of record December 11. The dividend implies an annualized yield of approximately 12.7%.
• Institutional investors and hedge funds own 24.29% of the fund, with several investors increasing their positions or initiating new stakes. DSU primarily invests in below-investment-grade corporate debt, including senior secured and floating-rate loans, to generate current income.

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU - Get Free Report) shares reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $9.30 and last traded at $9.3050, with a volume of 60966 shares traded. The stock had previously closed at $9.32.

BlackRock Debt Strategies Fund Stock Down 0.3%

The firm's 50-day moving average price is $9.48 and its 200-day moving average price is $9.67.

BlackRock Debt Strategies Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 22nd. Investors of record on Friday, December 11th will be issued a $0.0987 dividend. This represents a c) annualized dividend and a yield of 12.7%. The ex-dividend date is Friday, December 11th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. NewEdge Advisors LLC raised its holdings in shares of BlackRock Debt Strategies Fund by 2.3% during the 3rd quarter. NewEdge Advisors LLC now owns 88,507 shares of the financial services provider's stock valued at $940,000 after buying an additional 1,972 shares during the period. Jane Street Group LLC purchased a new stake in shares of BlackRock Debt Strategies Fund during the fourth quarter valued at approximately $555,000. Equitable Holdings Inc. raised its stake in shares of BlackRock Debt Strategies Fund by 28.2% during the fourth quarter. Equitable Holdings Inc. now owns 32,996 shares of the financial services provider's stock valued at $336,000 after purchasing an additional 7,257 shares during the period. Advisory Services Network LLC lifted its position in shares of BlackRock Debt Strategies Fund by 15.8% during the fourth quarter. Advisory Services Network LLC now owns 33,000 shares of the financial services provider's stock worth $336,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Strong Retirement Solutions LLC acquired a new position in shares of BlackRock Debt Strategies Fund during the fourth quarter worth $158,000. Institutional investors and hedge funds own 24.29% of the company's stock.

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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