BlackRock New York Municipal Income Trust (NYSE:BNY) Short Interest Update

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant decrease in short interest in the month of March. As of March 31st, there was short interest totalling 55,800 shares, a decrease of 21.1% from the March 15th total of 70,700 shares. Based on an average daily trading volume, of 49,900 shares, the days-to-cover ratio is currently 1.1 days.

BlackRock New York Municipal Income Trust Price Performance

Shares of BNY stock traded up $0.03 on Friday, reaching $9.77. 16,132 shares of the company’s stock were exchanged, compared to its average volume of 50,202. The company’s fifty day simple moving average is $10.21 and its 200 day simple moving average is $10.43. BlackRock New York Municipal Income Trust has a 52 week low of $9.55 and a 52 week high of $11.10.

BlackRock New York Municipal Income Trust Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Thursday, May 1st. Shareholders of record on Tuesday, April 15th will be given a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a yield of 6.27%. The ex-dividend date of this dividend is Tuesday, April 15th.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Hedge funds and other institutional investors have recently made changes to their positions in the company. Dakota Wealth Management bought a new stake in shares of BlackRock New York Municipal Income Trust in the fourth quarter valued at about $112,000. Summit Trail Advisors LLC purchased a new stake in shares of BlackRock New York Municipal Income Trust in the 4th quarter worth approximately $146,000. Envestnet Asset Management Inc. boosted its stake in shares of BlackRock New York Municipal Income Trust by 24.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,799 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,873 shares in the last quarter. Sanctuary Advisors LLC increased its holdings 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 buying an additional 1,749 shares during the period. Finally, Raymond James Financial Inc. bought a new position in BlackRock New York Municipal Income Trust in the fourth quarter worth approximately $259,000.

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.