BlackRock New York Municipal Income Trust (NYSE:BNY) to Issue $0.05 Monthly Dividend

BlackRock New York Municipal Income Trust (NYSE:BNY) announced a monthly dividend on Friday, January 2nd. Investors of record on Friday, February 6th will be paid a dividend of 0.051 per share by the financial services provider on Monday, March 2nd. This represents a c) annualized dividend and a dividend yield of 5.9%. The ex-dividend date of this dividend is Friday, February 6th.

BlackRock New York Municipal Income Trust Stock Performance

BNY traded up $0.07 during trading on Wednesday, hitting $10.29. The stock had a trading volume of 21,712 shares, compared to its average volume of 46,779. BlackRock New York Municipal Income Trust has a twelve month low of $9.30 and a twelve month high of $10.67. The company’s 50-day moving average price is $10.18 and its 200 day moving average price is $10.02.

Institutional Investors Weigh In On BlackRock New York Municipal Income Trust

A number of institutional investors have recently modified their holdings of the stock. PFG Investments LLC acquired a new position in BlackRock New York Municipal Income Trust in the second quarter worth approximately $111,000. Ackerman Capital Advisors LLC bought a new position in shares of BlackRock New York Municipal Income Trust during the second quarter worth $128,000. Envestnet Asset Management Inc. lifted its position in shares of BlackRock New York Municipal Income Trust by 46.6% in the second quarter. Envestnet Asset Management Inc. now owns 35,946 shares of the financial services provider’s stock worth $348,000 after purchasing an additional 11,419 shares in the last quarter. Bridgewater Advisors Inc. acquired a new position in BlackRock New York Municipal Income Trust during the second quarter valued at approximately $379,000. Finally, Cetera Investment Advisers increased its position in shares of BlackRock New York Municipal Income Trust by 17.6% during the 2nd quarter. Cetera Investment Advisers now owns 128,268 shares of the financial services provider’s stock worth $1,240,000 after purchasing an additional 19,220 shares during the last quarter.

About BlackRock New York Municipal Income Trust

BlackRock New York Municipal Income Trust (NYSE: BNY) is a closed-end management investment company that seeks to provide shareholders with a high level of tax-exempt current income. The trust primarily invests in a diversified portfolio of investment-grade municipal securities issued by the State of New York, the City of New York and various local authorities and public agencies within New York State.

The portfolio typically includes general obligation bonds, revenue bonds, pre-refunded municipal obligations and other fixed-income instruments that offer credit support through dedicated revenue streams or pledged taxing authority.