Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Grows By 67.5%

BlackRock New York Municipal Income Trust (NYSE:BNY) saw a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 14,515 shares, an increase of 67.5% from the January 15th total of 8,664 shares. Based on an average trading volume of 47,325 shares, the short-interest ratio is currently 0.3 days. Based on an average trading volume of 47,325 shares, the short-interest ratio is currently 0.3 days.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN grew its stake in shares of BlackRock New York Municipal Income Trust by 16.8% in the fourth quarter. Wells Fargo & Company MN now owns 95,286 shares of the financial services provider’s stock worth $966,000 after acquiring an additional 13,691 shares during the period. Jane Street Group LLC grew its position in BlackRock New York Municipal Income Trust by 21.5% in the 4th quarter. Jane Street Group LLC now owns 13,684 shares of the financial services provider’s stock worth $139,000 after purchasing an additional 2,423 shares during the period. Commonwealth Equity Services LLC raised its stake in BlackRock New York Municipal Income Trust by 42.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 43,218 shares of the financial services provider’s stock valued at $438,000 after buying an additional 12,804 shares during the last quarter. Wellspring Financial Advisors LLC lifted its holdings in shares of BlackRock New York Municipal Income Trust by 82.0% during the 4th quarter. Wellspring Financial Advisors LLC now owns 27,300 shares of the financial services provider’s stock valued at $277,000 after buying an additional 12,300 shares during the period. Finally, Quantify Chaos Advisors LLC purchased a new position in shares of BlackRock New York Municipal Income Trust in the 4th quarter worth $345,000.

BlackRock New York Municipal Income Trust Trading Down 0.1%

Shares of BNY opened at $10.22 on Friday. The business’s fifty day simple moving average is $10.19 and its two-hundred day simple moving average is $10.05. BlackRock New York Municipal Income Trust has a 12 month low of $9.30 and a 12 month high of $10.67.

BlackRock New York Municipal Income Trust Dividend Announcement

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