Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Drops By 54.2%

BlackRock New York Municipal Income Trust (NYSE:BNY) saw a large decrease in short interest during the month of December. As of December 31st, there was short interest totaling 5,455 shares, a decrease of 54.2% from the December 15th total of 11,900 shares. Based on an average trading volume of 111,724 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 111,724 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Trading of BlackRock New York Municipal Income Trust

Institutional investors and hedge funds have recently modified their holdings of the stock. Noble Wealth Management PBC grew its stake in BlackRock New York Municipal Income Trust by 162.7% in the fourth quarter. Noble Wealth Management PBC now owns 5,254 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 3,254 shares in the last quarter. Traub Capital Management LLC bought a new position in shares of BlackRock New York Municipal Income Trust during the 2nd quarter worth $72,000. PFG Investments LLC purchased a new position in shares of BlackRock New York Municipal Income Trust during the second quarter valued at $111,000. Private Advisor Group LLC bought a new stake in shares of BlackRock New York Municipal Income Trust in the third quarter valued at about $117,000. Finally, Ackerman Capital Advisors LLC bought a new stake in shares of BlackRock New York Municipal Income Trust in the second quarter valued at about $128,000.

BlackRock New York Municipal Income Trust Stock Up 0.1%

Shares of NYSE:BNY traded up $0.02 on Friday, hitting $10.25. 34,753 shares of the company’s stock were exchanged, compared to its average volume of 42,332. BlackRock New York Municipal Income Trust has a 12 month low of $9.30 and a 12 month high of $10.67. The business’s 50 day simple moving average is $10.18 and its two-hundred day simple moving average is $9.96.

BlackRock New York Municipal Income Trust Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 2nd. Shareholders of record on Friday, February 6th will be given a $0.051 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, February 6th.

About BlackRock New York Municipal Income Trust

BlackRock New York Municipal Income Trust (NYSE: BNY) is a closed-end management investment company that seeks to provide shareholders with a high level of tax-exempt current income. The trust primarily invests in a diversified portfolio of investment-grade municipal securities issued by the State of New York, the City of New York and various local authorities and public agencies within New York State.

The portfolio typically includes general obligation bonds, revenue bonds, pre-refunded municipal obligations and other fixed-income instruments that offer credit support through dedicated revenue streams or pledged taxing authority.