Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Declines By 54.2%

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 5,455 shares, a decrease of 54.2% from the December 15th total of 11,900 shares. Based on an average daily volume of 111,724 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 111,724 shares, the days-to-cover ratio is presently 0.0 days.

Institutional Investors Weigh In On BlackRock New York Municipal Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of BNY. PFG Investments LLC bought a new position in BlackRock New York Municipal Income Trust in the 2nd quarter worth $111,000. Ackerman Capital Advisors LLC purchased a new stake in BlackRock New York Municipal Income Trust in the second quarter worth about $128,000. Envestnet Asset Management Inc. raised its stake in shares of BlackRock New York Municipal Income Trust by 46.6% in the second quarter. Envestnet Asset Management Inc. now owns 35,946 shares of the financial services provider’s stock worth $348,000 after buying an additional 11,419 shares during the period. Bridgewater Advisors Inc. purchased a new position in shares of BlackRock New York Municipal Income Trust during the 2nd quarter valued at about $379,000. Finally, Cetera Investment Advisers lifted its position in shares of BlackRock New York Municipal Income Trust by 17.6% during the 2nd quarter. Cetera Investment Advisers now owns 128,268 shares of the financial services provider’s stock valued at $1,240,000 after buying an additional 19,220 shares in the last quarter.

BlackRock New York Municipal Income Trust Price Performance

Shares of NYSE:BNY traded up $0.02 during trading on Friday, hitting $10.25. The company’s stock had a trading volume of 34,753 shares, compared to its average volume of 42,332. The company has a 50-day moving average of $10.18 and a 200-day moving average of $9.96. BlackRock New York Municipal Income Trust has a 12 month low of $9.30 and a 12 month high of $10.67.

BlackRock New York Municipal Income Trust Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, March 2nd. Stockholders of record on Friday, February 6th will be paid a dividend of $0.051 per share. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Friday, February 6th.

About BlackRock New York Municipal Income Trust

BlackRock New York Municipal Income Trust (NYSE: BNY) is a closed-end management investment company that seeks to provide shareholders with a high level of tax-exempt current income. The trust primarily invests in a diversified portfolio of investment-grade municipal securities issued by the State of New York, the City of New York and various local authorities and public agencies within New York State.

The portfolio typically includes general obligation bonds, revenue bonds, pre-refunded municipal obligations and other fixed-income instruments that offer credit support through dedicated revenue streams or pledged taxing authority.