BlackRock New York Municipal Income Trust (NYSE:BNY) Short Interest Update

BlackRock New York Municipal Income Trust (NYSE:BNY) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totalling 37,300 shares, an increase of 305.4% from the August 15th total of 9,200 shares. Based on an average trading volume of 40,900 shares, the days-to-cover ratio is presently 0.9 days.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vectors Research Management LLC lifted its holdings in shares of BlackRock New York Municipal Income Trust by 40.8% in the second quarter. Vectors Research Management LLC now owns 4,390 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 1,272 shares in the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of BlackRock New York Municipal Income Trust by 9.2% in the first quarter. Commonwealth Equity Services LLC now owns 17,486 shares of the financial services provider’s stock valued at $270,000 after purchasing an additional 1,472 shares in the last quarter. Samalin Investment Counsel LLC purchased a new stake in shares of BlackRock New York Municipal Income Trust in the second quarter valued at about $28,000. Lazard Asset Management LLC purchased a new stake in shares of BlackRock New York Municipal Income Trust in the second quarter valued at about $52,000. Finally, Citigroup Inc. lifted its holdings in shares of BlackRock New York Municipal Income Trust by 41.1% in the second quarter. Citigroup Inc. now owns 18,226 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 5,312 shares in the last quarter.

Shares of BNY opened at $15.52 on Friday. The firm’s 50-day moving average is $15.27 and its two-hundred day moving average is $15.09. BlackRock New York Municipal Income Trust has a twelve month low of $13.25 and a twelve month high of $16.50.

The business also recently announced a monthly dividend, which will be paid on Friday, October 1st. Shareholders of record on Wednesday, September 15th will be given a dividend of $0.056 per share. The ex-dividend date is Tuesday, September 14th. This represents a $0.67 annualized dividend and a yield of 4.33%.

About BlackRock New York Municipal Income Trust

BlackRock New York Municipal Income Trust is a closed-end investment fund/investment trust company. Its investment objective is to provide current income exempt from regular federal income taxes and New York State and New York City personal income taxes. The company was founded on July 26, 2001 and is headquartered in Wilmington, DE.

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