BlackRock New York Municipal Income Trust (NYSE:BNY) Stock Passes Below Two Hundred Day Moving Average – Should You Sell?

BlackRock New York Municipal Income Trust (NYSE:BNY)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.75 and traded as low as $10.11. BlackRock New York Municipal Income Trust shares last traded at $10.13, with a volume of 137,800 shares changing hands.

BlackRock New York Municipal Income Trust Stock Up 0.8 %

The company’s fifty day moving average price is $10.64 and its two-hundred day moving average price is $10.75.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 16th will be issued a $0.051 dividend. This represents a $0.61 annualized dividend and a dividend yield of 5.99%. The ex-dividend date is Monday, December 16th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Pathway Financial Advisers LLC boosted its holdings in BlackRock New York Municipal Income Trust by 1,000.0% during the third quarter. Pathway Financial Advisers LLC now owns 4,829 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 4,390 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in BlackRock New York Municipal Income Trust during the second quarter worth $151,000. Landscape Capital Management L.L.C. acquired a new position in BlackRock New York Municipal Income Trust during the third quarter worth $152,000. Horizon Kinetics Asset Management LLC acquired a new position in BlackRock New York Municipal Income Trust during the third quarter worth $201,000. Finally, Blue Bell Private Wealth Management LLC lifted its stake in BlackRock New York Municipal Income Trust by 3.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 42,446 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 1,600 shares during the last quarter.

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.