BlackRock New York Municipal Income Trust (NYSE:BNY) Short Interest Up 29.7% in February

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant growth in short interest during the month of February. As of February 15th, there was short interest totalling 41,100 shares, a growth of 29.7% from the January 31st total of 31,700 shares. Based on an average trading volume of 61,800 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of BlackRock New York Municipal Income Trust

A number of institutional investors and hedge funds have recently bought and sold shares of BNY. Guggenheim Capital LLC grew its stake in BlackRock New York Municipal Income Trust by 2.1% during the fourth quarter. Guggenheim Capital LLC now owns 353,802 shares of the financial services provider’s stock worth $3,605,000 after buying an additional 7,162 shares during the period. Rivernorth Capital Management LLC lifted its holdings in shares of BlackRock New York Municipal Income Trust by 46.1% during the 3rd quarter. Rivernorth Capital Management LLC now owns 333,170 shares of the financial services provider’s stock valued at $3,665,000 after acquiring an additional 105,187 shares in the last quarter. Whitebox Advisors LLC boosted its position in BlackRock New York Municipal Income Trust by 88.4% during the 4th quarter. Whitebox Advisors LLC now owns 155,471 shares of the financial services provider’s stock worth $1,584,000 after purchasing an additional 72,954 shares during the period. Rockefeller Capital Management L.P. increased its holdings in BlackRock New York Municipal Income Trust by 152.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 137,095 shares of the financial services provider’s stock valued at $1,397,000 after purchasing an additional 82,700 shares in the last quarter. Finally, Focused Wealth Management Inc raised its position in BlackRock New York Municipal Income Trust by 0.8% in the third quarter. Focused Wealth Management Inc now owns 118,483 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 978 shares during the period.

BlackRock New York Municipal Income Trust Price Performance

BNY stock traded down $0.03 during trading on Tuesday, reaching $10.54. 91,539 shares of the stock traded hands, compared to its average volume of 47,823. The business’s 50 day moving average price is $10.38 and its 200-day moving average price is $10.62. BlackRock New York Municipal Income Trust has a 52-week low of $10.05 and a 52-week high of $11.10.

BlackRock New York Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.051 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.81%. The ex-dividend date is Friday, March 14th.

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.