BlackRock New York Municipal Income Trust (NYSE:BNY) Sees Significant Increase in Short Interest

BlackRock New York Municipal Income Trust (NYSE:BNY) was the target of a large growth in short interest during the month of February. As of February 15th, there was short interest totalling 41,100 shares, a growth of 29.7% from the January 31st total of 31,700 shares. Based on an average trading volume of 61,800 shares, the days-to-cover ratio is presently 0.7 days.

BlackRock New York Municipal Income Trust Stock Performance

Shares of BNY traded down $0.08 during trading hours on Thursday, reaching $10.47. 20,129 shares of the company’s stock traded hands, compared to its average volume of 47,642. The firm’s 50 day simple moving average is $10.39 and its 200-day simple moving average is $10.62. BlackRock New York Municipal Income Trust has a 12 month low of $10.05 and a 12 month high of $11.10.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Friday, March 14th.

Institutional Trading of BlackRock New York Municipal Income Trust

A number of hedge funds have recently made changes to their positions in BNY. Sanctuary Advisors LLC raised its position in BlackRock New York Municipal Income Trust by 11.9% during the third quarter. Sanctuary Advisors LLC now owns 16,403 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 1,749 shares in the last quarter. Landscape Capital Management L.L.C. purchased a new position in shares of BlackRock New York Municipal Income Trust during the 3rd quarter valued at about $152,000. Dakota Wealth Management bought a new stake in BlackRock New York Municipal Income Trust in the 4th quarter worth approximately $112,000. Focused Wealth Management Inc raised its stake in shares of BlackRock New York Municipal Income Trust by 0.8% during the third quarter. Focused Wealth Management Inc now owns 118,483 shares of the financial services provider’s stock worth $1,303,000 after acquiring an additional 978 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its stake in shares of BlackRock New York Municipal Income Trust by 58.5% in the 4th quarter. Wolverine Asset Management LLC now owns 68,505 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 25,272 shares in the last quarter.

BlackRock New York Municipal Income Trust Company Profile

BlackRock New York Municipal Income Trust is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests primarily in the investment grade municipal bonds exempt from federal income taxes and New York State and New York City personal income taxes.