BlackRock New York Municipal Income Trust (NYSE:BNY) Shares Cross Above 200 Day Moving Average – Should You Sell?

BlackRock New York Municipal Income Trust (NYSE:BNY)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $9.81 and traded as high as $10.21. BlackRock New York Municipal Income Trust shares last traded at $10.19, with a volume of 94,772 shares changing hands.

BlackRock New York Municipal Income Trust Price Performance

The stock has a 50-day moving average of $10.14 and a two-hundred day moving average of $9.81.

BlackRock New York Municipal Income Trust Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 14th will be paid a dividend of $0.051 per share. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, November 14th.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Hedge funds have recently modified their holdings of the stock. Cetera Investment Advisers lifted its holdings in shares of BlackRock New York Municipal Income Trust by 5.1% during the 1st quarter. Cetera Investment Advisers now owns 109,048 shares of the financial services provider’s stock valued at $1,109,000 after buying an additional 5,282 shares during the last quarter. Plancorp LLC acquired a new stake in BlackRock New York Municipal Income Trust in the first quarter valued at approximately $327,000. PFG Investments LLC acquired a new stake in BlackRock New York Municipal Income Trust in the second quarter valued at approximately $111,000. Ackerman Capital Advisors LLC bought a new stake in BlackRock New York Municipal Income Trust in the second quarter worth approximately $128,000. Finally, Envestnet Asset Management Inc. increased its stake in shares of BlackRock New York Municipal Income Trust by 46.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 35,946 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 11,419 shares during the last quarter.

About BlackRock New York Municipal Income Trust

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.