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 April 18, 2024, FRA stock price climbed to $12.91 with 72,369 million shares trading.

FRA has a beta of 0.46, meaning it tends to be less sensitive to market movements. FRA has a correlation of 0.22 to the broad based SPY ETF.

FRA has a market cap of $454.85 million. This is considered a Small Cap stock.

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

FRA stock has underperformed the market in the last year with a return of +20.9%, while SPY returned +22.3%. This shows that you would have done better investing in the overall market (through SPY) over the last year than in FRA shares. However, FRA has outperformed the market in the last 3 month and 2 week periods, returning +8.4% and 0.0%, while SPY returned +6.1% and -3.8%, respectively. This indicates FRA has been having a stronger performance recently.

FRA support price is $12.74 and resistance is $12.94 (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 stock will trade within this expected range on the day.