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

BlackRock New York Municipal Income Trust (NYSE:BNY) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 25,600 shares, a growth of 139.3% from the August 31st total of 10,700 shares. Based on an average trading volume of 47,500 shares, the days-to-cover ratio is presently 0.5 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 the company. Sanctuary Advisors LLC purchased a new stake in BlackRock New York Municipal Income Trust in the 2nd quarter valued at $151,000. ORG Partners LLC purchased a new position in BlackRock New York Municipal Income Trust during the first quarter worth about $244,000. Tidal Investments LLC increased its stake in BlackRock New York Municipal Income Trust by 8.5% in the 1st quarter. Tidal Investments LLC now owns 31,252 shares of the financial services provider’s stock valued at $331,000 after buying an additional 2,454 shares during the last quarter. Joel Isaacson & Co. LLC bought a new stake in shares of BlackRock New York Municipal Income Trust in the first quarter valued at $450,000. Finally, Blue Bell Private Wealth Management LLC lifted its position in shares of BlackRock New York Municipal Income Trust by 3.9% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 42,446 shares of the financial services provider’s stock valued at $455,000 after buying an additional 1,600 shares during the last quarter.

BlackRock New York Municipal Income Trust Price Performance

Shares of NYSE BNY opened at $11.01 on Friday. The firm has a fifty day simple moving average of $10.82 and a 200 day simple moving average of $10.68. BlackRock New York Municipal Income Trust has a twelve month low of $8.60 and a twelve month high of $11.09.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be issued a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a yield of 5.56%. The ex-dividend date is Tuesday, October 15th.

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.