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

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 25,600 shares, a growth of 139.3% from the August 31st total of 10,700 shares. Based on an average trading volume of 47,500 shares, the short-interest ratio is currently 0.5 days.

BlackRock New York Municipal Income Trust Price Performance

Shares of NYSE:BNY opened at $11.01 on Friday. The company’s fifty day moving average price is $10.82 and its 200-day moving average price is $10.68. BlackRock New York Municipal Income Trust has a one year low of $8.60 and a one year high of $11.09.

BlackRock New York Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 15th will be paid a $0.051 dividend. This represents a $0.61 annualized dividend and a yield of 5.56%. The ex-dividend date of this dividend is Tuesday, October 15th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sanctuary Advisors LLC purchased a new position in BlackRock New York Municipal Income Trust in the 2nd quarter worth approximately $151,000. ORG Partners LLC bought a new position in BlackRock New York Municipal Income Trust during the 1st quarter valued at approximately $244,000. Tidal Investments LLC increased its stake in shares of BlackRock New York Municipal Income Trust by 8.5% during the first quarter. Tidal Investments LLC now owns 31,252 shares of the financial services provider’s stock valued at $331,000 after buying an additional 2,454 shares during the period. Joel Isaacson & Co. LLC purchased a new position in shares of BlackRock New York Municipal Income Trust during the first quarter valued at approximately $450,000. Finally, Blue Bell Private Wealth Management LLC boosted its holdings in BlackRock New York Municipal Income Trust by 3.9% in the second quarter. Blue Bell Private Wealth Management LLC now owns 42,446 shares of the financial services provider’s stock valued at $455,000 after acquiring an additional 1,600 shares in the last quarter.

BlackRock New York Municipal Income Trust Company Profile

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.