Short Interest in Blackrock New York Municipal Income Trst (NYSE:BNY) Drops By 37.9%

Blackrock New York Municipal Income Trst (NYSE:BNY) was the recipient of a large drop in short interest in the month of March. As of March 13th, there was short interest totalling 12,300 shares, a drop of 37.9% from the February 27th total of 19,800 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 20,200 shares, the short-interest ratio is currently 0.6 days.

BNY stock traded up $0.89 during mid-day trading on Thursday, hitting $13.36. 20,700 shares of the company were exchanged, compared to its average volume of 30,227. The firm’s 50 day simple moving average is $13.80 and its 200 day simple moving average is $13.95. Blackrock New York Municipal Income Trst has a 1-year low of $10.04 and a 1-year high of $14.95.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a dividend of $0.048 per share. This is a boost from Blackrock New York Municipal Income Trst’s previous monthly dividend of $0.05. This represents a $0.58 annualized dividend and a dividend yield of 4.31%. The ex-dividend date of this dividend is Friday, March 13th.

Several institutional investors and hedge funds have recently modified their holdings of BNY. Edgewood Management LLC bought a new position in shares of Blackrock New York Municipal Income Trst during the 4th quarter worth approximately $491,000. Baird Financial Group Inc. bought a new position in shares of Blackrock New York Municipal Income Trst in the fourth quarter valued at $142,000. Rockefeller Capital Management L.P. bought a new position in shares of Blackrock New York Municipal Income Trst in the fourth quarter valued at $140,000. UBS Group AG grew its stake in shares of Blackrock New York Municipal Income Trst by 8.8% in the fourth quarter. UBS Group AG now owns 61,832 shares of the financial services provider’s stock valued at $867,000 after buying an additional 5,009 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of Blackrock New York Municipal Income Trst by 2.7% in the fourth quarter. Bank of America Corp DE now owns 64,706 shares of the financial services provider’s stock valued at $907,000 after buying an additional 1,680 shares in the last quarter.

Blackrock New York Municipal Income Trst 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.

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