BlackRock New York Municipal Income Trust (NYSE:BNY) Sees Large Increase in Short Interest

BlackRock New York Municipal Income Trust (NYSE:BNY – Get Rating) saw a significant increase in short interest in the month of May. As of May 15th, there was short interest totalling 16,000 shares, an increase of 92.8% from the April 30th total of 8,300 shares. Based on an average daily trading volume, of 54,900 shares, the days-to-cover ratio is currently 0.3 days.

BlackRock New York Municipal Income Trust Price Performance

BNY traded up $0.02 during trading on Friday, hitting $9.83. 30,967 shares of the company traded hands, compared to its average volume of 54,128. The stock’s fifty day moving average is $10.22 and its 200 day moving average is $10.34. BlackRock New York Municipal Income Trust has a one year low of $9.06 and a one year high of $11.96.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Thursday, June 1st. Investors of record on Monday, May 15th will be given a dividend of $0.031 per share. The ex-dividend date is Friday, May 12th. This represents a $0.37 annualized dividend and a yield of 3.78%.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BNY. Almitas Capital LLC bought a new position in BlackRock New York Municipal Income Trust during the fourth quarter worth about $42,000. GPS Wealth Strategies Group LLC bought a new position in BlackRock New York Municipal Income Trust during the first quarter worth about $69,000. Belpointe Asset Management LLC bought a new position in shares of BlackRock New York Municipal Income Trust in the first quarter valued at approximately $77,000. Logan Stone Capital LLC bought a new position in shares of BlackRock New York Municipal Income Trust in the third quarter valued at approximately $117,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of BlackRock New York Municipal Income Trust in the first quarter valued at approximately $125,000.

BlackRock New York Municipal Income Trust Company Profile

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BlackRock New York Municipal Income Trust is a closed-end investment fund. 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 March 30, 2001 and is headquartered in Wilmington, DE.