BlackRock New York Municipal Income Trust (NYSE:BNY) Sees Significant Drop in Short Interest

BlackRock New York Municipal Income Trust (NYSE:BNY) was the target of a large decrease in short interest during the month of January. As of January 15th, there was short interest totalling 25,900 shares, a decrease of 21.8% from the December 31st total of 33,100 shares. Based on an average daily trading volume, of 63,700 shares, the short-interest ratio is currently 0.4 days.

BlackRock New York Municipal Income Trust Stock Down 0.4 %

BNY stock traded down $0.04 during trading hours on Friday, hitting $10.37. 40,755 shares of the stock were exchanged, compared to its average volume of 50,488. BlackRock New York Municipal Income Trust has a 12 month low of $10.05 and a 12 month high of $11.10. The company has a 50-day simple moving average of $10.43 and a two-hundred day simple moving average of $10.66.

BlackRock New York Municipal Income Trust Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be issued a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 5.90%. The ex-dividend date is Wednesday, January 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Pathway Financial Advisers LLC grew its position 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 buying an additional 4,390 shares in the last quarter. Dakota Wealth Management bought a new stake in shares of BlackRock New York Municipal Income Trust during the 4th quarter valued at $112,000. Summit Trail Advisors LLC acquired a new stake in shares of BlackRock New York Municipal Income Trust during the 4th quarter worth $146,000. Sanctuary Advisors LLC bought a new position in shares of BlackRock New York Municipal Income Trust in the second quarter worth $151,000. Finally, Landscape Capital Management L.L.C. acquired a new position in BlackRock New York Municipal Income Trust in the third quarter valued at about $152,000.

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.