BlackRock New York Municipal Income Trust (NYSE:BNY) Short Interest Down 21.1% in March

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a significant decline in short interest during the month of March. As of March 31st, there was short interest totalling 55,800 shares, a decline of 21.1% from the March 15th total of 70,700 shares. Based on an average daily volume of 49,900 shares, the short-interest ratio is currently 1.1 days.

Institutional Trading of BlackRock New York Municipal Income Trust

Hedge funds have recently bought and sold shares of the company. Sanctuary Advisors LLC boosted its position in BlackRock New York Municipal Income Trust by 11.9% in the third quarter. Sanctuary Advisors LLC now owns 16,403 shares of the financial services provider’s stock worth $173,000 after purchasing an additional 1,749 shares during the last quarter. Rivernorth Capital Management LLC increased its position in shares of BlackRock New York Municipal Income Trust by 46.1% during the 3rd quarter. Rivernorth Capital Management LLC now owns 333,170 shares of the financial services provider’s stock valued at $3,665,000 after purchasing an additional 105,187 shares during the last quarter. Dakota Wealth Management bought a new position in shares of BlackRock New York Municipal Income Trust in the 4th quarter worth approximately $112,000. Summit Trail Advisors LLC purchased a new position in shares of BlackRock New York Municipal Income Trust in the fourth quarter worth approximately $146,000. Finally, Wolverine Asset Management LLC grew its position in BlackRock New York Municipal Income Trust by 58.5% during the fourth quarter. Wolverine Asset Management LLC now owns 68,505 shares of the financial services provider’s stock valued at $698,000 after buying an additional 25,272 shares during the period.

BlackRock New York Municipal Income Trust Stock Performance

Shares of BlackRock New York Municipal Income Trust stock opened at $9.77 on Friday. BlackRock New York Municipal Income Trust has a twelve month low of $9.55 and a twelve month high of $11.10. The company’s 50 day moving average is $10.21 and its 200 day moving average is $10.44.

BlackRock New York Municipal Income Trust Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, May 1st. Stockholders of record on Tuesday, April 15th will be paid a $0.051 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.61 dividend on an annualized basis and a dividend yield of 6.27%.

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.