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

BlackRock New York Municipal Income Trust (NYSE:BNY) saw 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 daily trading volume, of 61,800 shares, the days-to-cover ratio is currently 0.7 days.

BlackRock New York Municipal Income Trust Price Performance

BNY traded down $0.08 during trading on Thursday, hitting $10.47. 20,129 shares of the company traded hands, compared to its average volume of 47,642. BlackRock New York Municipal Income Trust has a one year low of $10.05 and a one year high of $11.10. The stock’s fifty day moving average is $10.39 and its 200 day moving average is $10.62.

BlackRock New York Municipal Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BNY. Dakota Wealth Management bought a new position in BlackRock New York Municipal Income Trust during the fourth quarter worth about $112,000. Summit Trail Advisors LLC purchased a new position in BlackRock New York Municipal Income Trust in the 4th quarter valued at approximately $146,000. Envestnet Asset Management Inc. raised its holdings in BlackRock New York Municipal Income Trust by 24.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,799 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 2,873 shares during the period. Landscape Capital Management L.L.C. purchased a new stake in shares of BlackRock New York Municipal Income Trust during the third quarter worth $152,000. Finally, Sanctuary Advisors LLC boosted its holdings in shares of BlackRock New York Municipal Income Trust by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 16,403 shares of the financial services provider’s stock worth $173,000 after acquiring an additional 1,749 shares during the period.

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.