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

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant growth in short interest during the month of March. As of March 15th, there was short interest totalling 70,700 shares, a growth of 74.6% from the February 28th total of 40,500 shares. Based on an average trading volume of 56,700 shares, the days-to-cover ratio is presently 1.2 days.

BlackRock New York Municipal Income Trust Stock Performance

BNY stock traded up $0.04 during trading hours on Friday, hitting $10.17. The company’s stock had a trading volume of 57,387 shares, compared to its average volume of 49,434. The stock has a 50 day moving average price of $10.39 and a two-hundred day moving average price of $10.56. BlackRock New York Municipal Income Trust has a 12 month low of $10.05 and a 12 month high of $11.10.

BlackRock New York Municipal Income Trust Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.051 per share. This represents a $0.61 annualized dividend and a yield of 6.02%. The ex-dividend date is Friday, March 14th.

Institutional Trading of BlackRock New York Municipal Income Trust

Institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC increased its holdings in shares of BlackRock New York Municipal Income Trust by 11.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 16,403 shares of the financial services provider’s stock valued at $173,000 after acquiring an additional 1,749 shares during the last quarter. Dakota Wealth Management acquired a new position in BlackRock New York Municipal Income Trust during the fourth quarter valued at approximately $112,000. Wolverine Asset Management LLC raised its position in shares of BlackRock New York Municipal Income Trust by 58.5% in the fourth quarter. Wolverine Asset Management LLC now owns 68,505 shares of the financial services provider’s stock valued at $698,000 after purchasing an additional 25,272 shares during the period. Rivernorth Capital Management LLC lifted its stake in shares of BlackRock New York Municipal Income Trust by 46.1% in the third quarter. Rivernorth Capital Management LLC now owns 333,170 shares of the financial services provider’s stock worth $3,665,000 after buying an additional 105,187 shares during the last quarter. Finally, Rockefeller Capital Management L.P. bought a new stake in shares of BlackRock New York Municipal Income Trust during the 3rd quarter worth $598,000.

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.