FRA Stock Summary and Trading Ideas (Blackrock Floating Rate Income Strategies | NYSE:FRA)

Floating Rate Income Strategies Fund, Inc. seeks a high current income and such preservation of capital as is consistent with investment in a diversified, leveraged portfolio consisting primarily of floating rate debt securities and instruments.

Blackrock Floating Rate Income Strategies trades on the NYSE stock market under the symbol FRA.

As of November 15, 2024, FRA stock price climbed to $13.92 with 116,119 million shares trading.

FRA has a beta of 0.15, meaning it tends to be less sensitive to market movements. FRA has a correlation of 0.04 to the broad based SPY ETF.

FRA has a market cap of $490.43 million. This is considered a Small Cap stock.

In the last 3 years, FRA traded as high as $14.46 and as low as $10.92.

FRA has underperformed the market in the last year with a price return of +30.1% while the SPY ETF gained +31.8%. However, in the short term, FRA had mixed performance relative to the market. It has outperformed in the last 3 months, returning +11.2% vs +6.2% return in SPY. But in the last 2 weeks, FRA shares have been beat by the market, returning +1.0% compared to an SPY return of +2.6%.

FRA support price is $13.76 and resistance is $13.98 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that FRA shares will trade within this expected range on the day.