BlackRock Debt Strategies Fund (NYSE:DSU) Sets New 12-Month Low - Here's What Happened

Key Points

• DSU hit a new 52-week low, falling to $8.85 during Tuesday trading before recovering slightly to around $8.92. Its price remained below both its 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.0987 per share, equivalent to approximately $1.18 annually and a high 13.3% yield.
• Institutional investors and hedge funds own 24.29% of DSU, with several firms recently increasing their positions or initiating new stakes.

BlackRock Debt Strategies Fund, Inc. (NYSE:DSU - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $8.85 and last traded at $8.9150, with a volume of 61750 shares changing hands. The stock had previously closed at $8.88.

BlackRock Debt Strategies Fund Stock Up 0.5%

The firm's 50-day simple moving average is $9.35 and its 200 day simple moving average is $9.61.

BlackRock Debt Strategies Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Friday, December 11th will be given a dividend of $0.0987 per share. The ex-dividend date is Friday, December 11th. This represents a $1.18 annualized dividend and a dividend yield of 13.3%.

Institutional Trading of BlackRock Debt Strategies Fund

Several large investors have recently added to or reduced their stakes in DSU. CoreCap Advisors LLC grew its stake in shares of BlackRock Debt Strategies Fund by 49.3% in the second quarter. CoreCap Advisors LLC now owns 4,242 shares of the financial services provider's stock worth $41,000 after purchasing an additional 1,400 shares in the last quarter. Matrix Private Capital Group LLC bought a new stake in shares of BlackRock Debt Strategies Fund during the first quarter valued at about $96,000. PNC Financial Services Group Inc. raised its stake in shares of BlackRock Debt Strategies Fund by 5.6% during the first quarter. PNC Financial Services Group Inc. now owns 42,504 shares of the financial services provider's stock valued at $408,000 after purchasing an additional 2,247 shares in the last quarter. Fifth Third Bancorp acquired a new stake in BlackRock Debt Strategies Fund in the first quarter worth about $147,000. Finally, Kestra Advisory Services LLC lifted its holdings in BlackRock Debt Strategies Fund by 4.0% in the first quarter. Kestra Advisory Services LLC now owns 29,190 shares of the financial services provider's stock worth $280,000 after purchasing an additional 1,111 shares during the period. 24.29% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Debt Strategies Fund Company Profile

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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