BlackRock New York Municipal Income Trust (NYSE:BNY) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

BlackRock New York Municipal Income Trust (NYSE:BNY)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.58 and traded as low as $10.17. BlackRock New York Municipal Income Trust shares last traded at $10.34, with a volume of 89,568 shares changing hands.

BlackRock New York Municipal Income Trust Price Performance

The company’s 50-day moving average is $10.39 and its 200 day moving average is $10.58.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently disclosed 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. This represents a $0.61 annualized dividend and a dividend yield of 5.92%. The ex-dividend date is Friday, March 14th.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

Several hedge funds and other institutional investors have recently modified their holdings of BNY. Sanctuary Advisors LLC increased its holdings in 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 worth $173,000 after buying an additional 1,749 shares during the period. Envestnet Asset Management Inc. increased its holdings in BlackRock New York Municipal Income Trust by 24.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 14,799 shares of the financial services provider’s stock worth $151,000 after buying an additional 2,873 shares during the period. Baird Financial Group Inc. increased its holdings in BlackRock New York Municipal Income Trust by 7.6% in the 4th 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. Almitas Capital LLC increased its holdings in BlackRock New York Municipal Income Trust by 27.7% in the 4th quarter. Almitas Capital LLC now owns 28,553 shares of the financial services provider’s stock worth $291,000 after buying an additional 6,200 shares during the period. Finally, Whitebox Advisors LLC increased its holdings in BlackRock New York Municipal Income Trust by 9.4% in the 3rd quarter. Whitebox Advisors LLC now owns 82,517 shares of the financial services provider’s stock worth $908,000 after buying an additional 7,084 shares during the period.

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.