Short Interest in BlackRock New York Municipal Income Trust (NYSE:BNY) Declines By 54.2%

BlackRock New York Municipal Income Trust (NYSE:BNY) was the recipient of a large decrease in short interest in the month of December. As of December 31st, there was short interest totaling 5,455 shares, a decrease of 54.2% from the December 15th total of 11,900 shares. Based on an average trading volume of 111,724 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 111,724 shares, the days-to-cover ratio is currently 0.0 days.

BlackRock New York Municipal Income Trust Trading Down 0.1%

Shares of NYSE:BNY traded down $0.02 during trading on Wednesday, reaching $10.26. 29,243 shares of the stock were exchanged, compared to its average volume of 45,038. BlackRock New York Municipal Income Trust has a 12 month low of $9.30 and a 12 month high of $10.67. The stock has a 50-day moving average price of $10.18 and a 200-day moving average price of $9.96.

BlackRock New York Municipal Income Trust Dividend Announcement

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

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Ackerman Capital Advisors LLC bought a new position in BlackRock New York Municipal Income Trust during the second quarter worth about $128,000. Rockefeller Capital Management L.P. grew its position in shares of BlackRock New York Municipal Income Trust by 7.3% during the 2nd quarter. Rockefeller Capital Management L.P. now owns 147,095 shares of the financial services provider’s stock worth $1,422,000 after purchasing an additional 10,000 shares in the last quarter. Traub Capital Management LLC bought a new position in shares of BlackRock New York Municipal Income Trust during the second quarter worth approximately $72,000. Bridgewater Advisors Inc. bought a new position in shares of BlackRock New York Municipal Income Trust during the second quarter worth approximately $379,000. Finally, Envestnet Asset Management Inc. raised its position in shares of BlackRock New York Municipal Income Trust by 46.6% in the second quarter. Envestnet Asset Management Inc. now owns 35,946 shares of the financial services provider’s stock valued at $348,000 after buying an additional 11,419 shares in the last quarter.

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.