BlackRock New York Municipal Income Trust (NYSE:BNY) Stock Passes Below 200 Day Moving Average – Here’s Why

BlackRock New York Municipal Income Trust (NYSE:BNY)’s stock price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.60 and traded as low as $10.20. BlackRock New York Municipal Income Trust shares last traded at $10.27, with a volume of 63,425 shares trading hands.

BlackRock New York Municipal Income Trust Stock Performance

The business has a 50-day moving average price of $10.41 and a 200 day moving average price of $10.60.

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 issued a dividend of $0.051 per share. The ex-dividend date is Friday, March 14th. This represents a $0.61 dividend on an annualized basis and a yield of 6.02%.

Hedge Funds Weigh In On BlackRock New York Municipal Income Trust

A number of institutional investors have recently added to or reduced their stakes in BNY. Dakota Wealth Management bought a new position in BlackRock New York Municipal Income Trust in the 4th quarter worth about $112,000. Summit Trail Advisors LLC bought a new position in shares of BlackRock New York Municipal Income Trust during the 4th quarter valued at about $146,000. Envestnet Asset Management Inc. increased its position in shares of BlackRock New York Municipal Income Trust by 24.1% during the 4th quarter. Envestnet Asset Management Inc. now owns 14,799 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 2,873 shares during the last quarter. Landscape Capital Management L.L.C. bought a new position in shares of BlackRock New York Municipal Income Trust during the 3rd quarter valued at about $152,000. Finally, Sanctuary Advisors LLC increased its position in shares of BlackRock New York Municipal Income Trust by 11.9% during 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 last quarter.

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.