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

BlackRock New York Municipal Income Trust (NYSE:BNYGet Rating) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 65,900 shares, a growth of 74.3% from the March 15th total of 37,800 shares. Based on an average daily volume of 76,100 shares, the days-to-cover ratio is presently 0.9 days.

NYSE:BNY traded down $0.12 during trading hours on Friday, reaching $11.71. The company’s stock had a trading volume of 35,955 shares, compared to its average volume of 74,599. BlackRock New York Municipal Income Trust has a one year low of $11.70 and a one year high of $15.66. The business’s 50-day moving average is $12.44 and its 200-day moving average is $13.92.

The firm also recently disclosed a monthly dividend, which will be paid on Monday, May 2nd. Investors of record on Thursday, April 14th will be issued a $0.047 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Wednesday, April 13th.

A number of large investors have recently modified their holdings of the stock. Focused Wealth Management Inc raised its stake in shares of BlackRock New York Municipal Income Trust by 0.8% in the 4th quarter. Focused Wealth Management Inc now owns 215,946 shares of the financial services provider’s stock valued at $3,192,000 after acquiring an additional 1,697 shares in the last quarter. Cetera Advisor Networks LLC raised its stake in shares of BlackRock New York Municipal Income Trust by 3.5% in the 3rd quarter. Cetera Advisor Networks LLC now owns 51,893 shares of the financial services provider’s stock valued at $796,000 after acquiring an additional 1,770 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of BlackRock New York Municipal Income Trust by 4.4% in the 4th quarter. Commonwealth Equity Services LLC now owns 44,036 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 1,864 shares in the last quarter. Morgan Stanley raised its stake in shares of BlackRock New York Municipal Income Trust by 2.6% in the 3rd quarter. Morgan Stanley now owns 122,216 shares of the financial services provider’s stock valued at $1,875,000 after acquiring an additional 3,074 shares in the last quarter. Finally, Andrew Hill Investment Advisors Inc. bought a new stake in shares of BlackRock New York Municipal Income Trust during the 4th quarter worth $155,000.

A number of research analysts have commented on BNY shares. Keefe, Bruyette & Woods downgraded BlackRock New York Municipal Income Trust from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 11th. Barclays raised their price objective on shares of BlackRock New York Municipal Income Trust from $62.00 to $74.00 in a research report on Monday, January 3rd.

BlackRock New York Municipal Income Trust Company Profile (Get Rating)

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.

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