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 large growth in short interest in the month of 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 daily volume of 56,700 shares, the days-to-cover ratio is currently 1.2 days.

BlackRock New York Municipal Income Trust Price Performance

NYSE BNY traded up $0.04 on Friday, hitting $10.17. 57,387 shares of the company were exchanged, compared to its average volume of 49,434. BlackRock New York Municipal Income Trust has a twelve month low of $10.05 and a twelve month high of $11.10. The company’s 50 day moving average price is $10.39 and its 200-day moving average price is $10.56.

BlackRock New York Municipal Income Trust Dividend Announcement

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

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. acquired a new stake in shares of BlackRock New York Municipal Income Trust in the third quarter worth $598,000. Rivernorth Capital Management LLC boosted its position in 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 worth $3,665,000 after acquiring an additional 105,187 shares during the period. Whitebox Advisors LLC grew its stake in BlackRock New York Municipal Income Trust by 9.4% during the 3rd quarter. Whitebox Advisors LLC now owns 82,517 shares of the financial services provider’s stock valued at $908,000 after acquiring an additional 7,084 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in shares of BlackRock New York Municipal Income Trust by 11.9% in the 3rd quarter. Sanctuary Advisors LLC now owns 16,403 shares of the financial services provider’s stock valued at $173,000 after purchasing an additional 1,749 shares during the period. Finally, Dakota Wealth Management purchased a new stake in shares of BlackRock New York Municipal Income Trust in the fourth quarter worth approximately $112,000.

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.