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

BlackRock New York Municipal Income Trust (NYSE:BNY) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.58 and traded as low as $10.17. BlackRock New York Municipal Income Trust shares last traded at $10.34, with a volume of 89,568 shares.

BlackRock New York Municipal Income Trust Stock Performance

The business has a 50-day moving average price of $10.39 and a 200 day moving average price of $10.58.

BlackRock New York Municipal Income Trust Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $0.051 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 5.92%. The ex-dividend date of this dividend is Friday, March 14th.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Hedge funds have recently bought and sold shares of the business. Dakota Wealth Management bought a new stake in BlackRock New York Municipal Income Trust during the fourth quarter valued at about $112,000. Summit Trail Advisors LLC bought a new stake in BlackRock New York Municipal Income Trust during the fourth quarter valued at about $146,000. Envestnet Asset Management Inc. boosted its holdings in BlackRock New York Municipal Income Trust by 24.1% during the fourth quarter. Envestnet Asset Management Inc. now owns 14,799 shares of the financial services provider’s stock valued at $151,000 after acquiring an additional 2,873 shares during the period. Landscape Capital Management L.L.C. bought a new stake in BlackRock New York Municipal Income Trust during the third quarter valued at about $152,000. Finally, Sanctuary Advisors LLC boosted its holdings in BlackRock New York Municipal Income Trust by 11.9% during the third 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 period.

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.