BlackRock New York Municipal Income Trust (NYSE:BNY) Stock Passes Below 200 Day Moving Average – Time to Sell?

BlackRock New York Municipal Income Trust (NYSE:BNY)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.71 and traded as low as $10.13. BlackRock New York Municipal Income Trust shares last traded at $10.22, with a volume of 27,815 shares traded.

BlackRock New York Municipal Income Trust Price Performance

The stock has a 50 day moving average of $10.51 and a 200 day moving average of $10.71.

BlackRock New York Municipal Income Trust Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be paid a $0.051 dividend. This represents a $0.61 annualized dividend and a yield of 5.99%. The ex-dividend date is Wednesday, January 15th.

Institutional Investors Weigh In On BlackRock New York Municipal Income Trust

A number of hedge funds and other institutional investors have recently modified their holdings of BNY. Focused Wealth Management Inc lifted its stake in shares of BlackRock New York Municipal Income Trust by 0.8% in the 3rd quarter. Focused Wealth Management Inc now owns 118,483 shares of the financial services provider’s stock valued at $1,303,000 after purchasing an additional 978 shares during the period. Sanctuary Advisors LLC lifted its position in 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 acquiring an additional 1,749 shares during the period. Pathway Financial Advisers LLC grew its holdings in BlackRock New York Municipal Income Trust by 1,000.0% in the third quarter. Pathway Financial Advisers LLC now owns 4,829 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 4,390 shares during the period. Cetera Investment Advisers lifted its holdings in shares of BlackRock New York Municipal Income Trust by 7.2% during the second quarter. Cetera Investment Advisers now owns 96,357 shares of the financial services provider’s stock valued at $1,032,000 after purchasing an additional 6,443 shares during the last quarter. Finally, Whitebox Advisors LLC boosted its holdings in BlackRock New York Municipal Income Trust by 9.4% in the third quarter. Whitebox Advisors LLC now owns 82,517 shares of the financial services provider’s stock worth $908,000 after acquiring an additional 7,084 shares in the last quarter.

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.