BlackRock New York Municipal Income Trust (NYSE:BNY) Short Interest Up 74.6% in March

BlackRock New York Municipal Income Trust (NYSE:BNY) was the target of a significant growth in short interest in March. As of March 15th, there was short interest totalling 70,700 shares, a growth of 74.6% from the February 28th total of 40,500 shares. Based on an average trading volume of 56,700 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised its position in BlackRock New York Municipal Income Trust by 2.1% during the 4th quarter. Guggenheim Capital LLC now owns 353,802 shares of the financial services provider’s stock worth $3,605,000 after purchasing an additional 7,162 shares during the last quarter. Rivernorth Capital Management LLC raised its position in shares of BlackRock New York Municipal Income Trust by 46.1% during the third quarter. Rivernorth Capital Management LLC now owns 333,170 shares of the financial services provider’s stock worth $3,665,000 after acquiring an additional 105,187 shares during the last quarter. Whitebox Advisors LLC lifted its stake in shares of BlackRock New York Municipal Income Trust by 88.4% in the fourth quarter. Whitebox Advisors LLC now owns 155,471 shares of the financial services provider’s stock worth $1,584,000 after acquiring an additional 72,954 shares during the period. Rockefeller Capital Management L.P. boosted its stake in shares of BlackRock New York Municipal Income Trust by 152.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 137,095 shares of the financial services provider’s stock valued at $1,397,000 after purchasing an additional 82,700 shares during the last quarter. Finally, Baird Financial Group Inc. increased its position in shares of BlackRock New York Municipal Income Trust by 7.6% during the fourth quarter. Baird Financial Group Inc. now owns 71,943 shares of the financial services provider’s stock worth $733,000 after buying an additional 5,090 shares during the period.

BlackRock New York Municipal Income Trust Stock Up 0.3 %

NYSE:BNY opened at $10.17 on Monday. BlackRock New York Municipal Income Trust has a 52 week low of $10.05 and a 52 week high of $11.10. The firm’s 50-day simple moving average is $10.39 and its 200 day simple moving average is $10.56.

BlackRock New York Municipal Income Trust Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.051 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.61 annualized dividend and a yield of 6.02%.

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.