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

BlackRock New York Municipal Income Trust (NYSE:BNY – Get Rating) was the recipient of a large increase in short interest in May. As of May 15th, there was short interest totalling 16,000 shares, an increase of 92.8% from the April 30th total of 8,300 shares. Based on an average daily trading volume, of 54,900 shares, the short-interest ratio is currently 0.3 days.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Fiera Capital Corp bought a new position in BlackRock New York Municipal Income Trust in the 4th quarter worth approximately $4,600,000. Logan Stone Capital LLC boosted its stake in BlackRock New York Municipal Income Trust by 1,655.8% in the 4th quarter. Logan Stone Capital LLC now owns 209,732 shares of the financial services provider’s stock worth $2,112,000 after purchasing an additional 197,787 shares during the period. Ameriprise Financial Inc. bought a new stake in BlackRock New York Municipal Income Trust in the first quarter worth $1,178,000. Hennion & Walsh Asset Management Inc. increased its stake in BlackRock New York Municipal Income Trust by 25.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 505,847 shares of the financial services provider’s stock worth $5,094,000 after buying an additional 101,612 shares during the period. Finally, Robinson Capital Management LLC purchased a new position in BlackRock New York Municipal Income Trust in the 1st quarter worth about $1,050,000.

BlackRock New York Municipal Income Trust Price Performance

Shares of BNY traded up $0.02 during trading hours on Friday, hitting $9.83. The company had a trading volume of 30,967 shares, compared to its average volume of 54,128. The firm has a fifty day moving average price of $10.22 and a 200-day moving average price of $10.34. BlackRock New York Municipal Income Trust has a 52-week low of $9.06 and a 52-week high of $11.96.

BlackRock New York Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be paid a dividend of $0.031 per share. The ex-dividend date of this dividend is Friday, May 12th. This represents a $0.37 dividend on an annualized basis and a dividend yield of 3.78%.

BlackRock New York Municipal Income Trust Company Profile

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BlackRock New York Municipal Income Trust is a closed-end investment fund. 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 March 30, 2001 and is headquartered in Wilmington, DE.