Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Rises By 272.0%

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 69,200 shares, a growth of 272.0% from the September 15th total of 18,600 shares. Based on an average daily trading volume, of 35,900 shares, the short-interest ratio is currently 1.9 days.

A number of large investors have recently made changes to their positions in BNY. Focused Wealth Management Inc lifted its position in shares of BlackRock New York Municipal Income Trust by 0.8% in the 3rd quarter. Focused Wealth Management Inc now owns 214,249 shares of the financial services provider’s stock worth $3,287,000 after acquiring an additional 1,621 shares during the period. Morgan Stanley lifted its position in shares of BlackRock New York Municipal Income Trust by 71.3% during the 2nd quarter. Morgan Stanley now owns 119,142 shares of the financial services provider’s stock worth $1,799,000 after buying an additional 49,573 shares during the period. Wells Fargo & Company MN lifted its position in shares of BlackRock New York Municipal Income Trust by 20.7% during the 2nd quarter. Wells Fargo & Company MN now owns 287,902 shares of the financial services provider’s stock worth $4,347,000 after buying an additional 49,282 shares during the period. Invesco Ltd. lifted its position in shares of BlackRock New York Municipal Income Trust by 36.0% during the 2nd quarter. Invesco Ltd. now owns 48,019 shares of the financial services provider’s stock worth $725,000 after buying an additional 12,719 shares during the period. Finally, Bank of America Corp DE increased its holdings in BlackRock New York Municipal Income Trust by 67.8% during the 2nd quarter. Bank of America Corp DE now owns 220,304 shares of the financial services provider’s stock valued at $3,327,000 after purchasing an additional 89,011 shares in the last quarter.

Shares of NYSE BNY traded up $0.07 during mid-day trading on Thursday, reaching $15.24. 26,244 shares of the company traded hands, compared to its average volume of 47,777. The company’s fifty day moving average is $15.31 and its two-hundred day moving average is $15.10. BlackRock New York Municipal Income Trust has a fifty-two week low of $13.25 and a fifty-two week high of $16.50.

The firm also recently announced a monthly dividend, which will be paid on Monday, November 1st. Investors of record on Friday, October 15th will be paid a dividend of $0.056 per share. The ex-dividend date of this dividend is Thursday, October 14th. This represents a $0.67 annualized dividend and a yield of 4.41%.

BlackRock New York Municipal Income Trust Company Profile

BlackRock New York Municipal Income Trust is a closed-end investment fund/investment trust company. Its investment objective is to provide current income exempt from regular federal income taxes and New York State and New York City personal income taxes. The company was founded on July 26, 2001 and is headquartered in Wilmington, DE.

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