BlackRock New York Municipal Income Trust (NYSE:BNY) Sees Large Increase in Short Interest

BlackRock New York Municipal Income Trust (NYSE:BNY) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 8,664 shares, a growth of 58.8% from the December 31st total of 5,455 shares. Based on an average daily volume of 43,128 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 43,128 shares, the days-to-cover ratio is currently 0.2 days.

Institutional Trading of BlackRock New York Municipal Income Trust

Several institutional investors and hedge funds have recently modified their holdings of BNY. City of London Investment Management Co. Ltd. bought a new position in shares of BlackRock New York Municipal Income Trust in the third quarter valued at approximately $539,000. Guggenheim Capital LLC raised its position 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 valued at $3,804,000 after buying an additional 46,256 shares during the last quarter. Bridgewater Advisors Inc. bought a new position in BlackRock New York Municipal Income Trust during the 2nd quarter valued at $379,000. Karpus Management Inc. lifted its stake in BlackRock New York Municipal Income Trust by 5.1% during the 2nd 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. Finally, Legacy Advisors LLC purchased a new position in BlackRock New York Municipal Income Trust during the 4th quarter worth $252,000.

BlackRock New York Municipal Income Trust Stock Down 0.1%

Shares of BlackRock New York Municipal Income Trust stock traded down $0.01 during trading hours on Monday, reaching $10.22. The company’s stock had a trading volume of 22,258 shares, compared to its average volume of 43,959. BlackRock New York Municipal Income Trust has a one year low of $9.30 and a one year high of $10.67. The stock’s fifty day simple moving average is $10.18 and its two-hundred day simple moving average is $10.01.

BlackRock New York Municipal Income Trust Dividend Announcement

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

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.