Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Declines By 26.2%

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 49,100 shares, a decrease of 26.2% from the August 31st total of 66,500 shares. Based on an average daily volume of 60,200 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 60,200 shares, the days-to-cover ratio is presently 0.8 days.

BlackRock New York Municipal Income Trust Price Performance

Shares of NYSE BNY opened at $10.17 on Tuesday. The firm’s fifty day moving average is $9.77 and its 200 day moving average is $9.75. BlackRock New York Municipal Income Trust has a 52 week low of $9.30 and a 52 week high of $10.97.

BlackRock New York Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Monday, November 3rd. Stockholders of record on Wednesday, October 15th will be paid a dividend of $0.051 per share. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date of this dividend is Wednesday, October 15th.

Institutional Trading of BlackRock New York Municipal Income Trust

A number of institutional investors have recently modified their holdings of BNY. Mackay Shields LLC grew its stake in shares of BlackRock New York Municipal Income Trust by 34.8% in the first quarter. Mackay Shields LLC now owns 218,559 shares of the financial services provider’s stock worth $2,223,000 after purchasing an additional 56,373 shares during the last quarter. Guggenheim Capital LLC lifted its holdings in BlackRock New York Municipal Income Trust by 13.3% in the 2nd quarter. Guggenheim Capital LLC now owns 393,370 shares of the financial services provider’s stock worth $3,804,000 after buying an additional 46,256 shares during the period. Bridgewater Advisors Inc. bought a new stake in shares of BlackRock New York Municipal Income Trust in the 2nd quarter worth approximately $379,000. Plancorp LLC purchased a new position in shares of BlackRock New York Municipal Income Trust during the first quarter valued at approximately $327,000. Finally, Karpus Management Inc. raised its holdings in shares of BlackRock New York Municipal Income Trust by 5.1% during the second quarter. Karpus Management Inc. now owns 609,718 shares of the financial services provider’s stock valued at $5,896,000 after acquiring an additional 29,328 shares in the last quarter.

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.