BlackRock New York Municipal Income Trust (NYSE:BNY) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

BlackRock New York Municipal Income Trust (NYSE:BNY) shares passed 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 Down 0.8 %

The stock’s fifty day simple moving average is $10.41 and its two-hundred day simple moving average is $10.60.

BlackRock New York Municipal Income Trust Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 5.96%. The ex-dividend date is Friday, March 14th.

Institutional Investors Weigh In On BlackRock New York Municipal Income Trust

Institutional investors have recently modified their holdings of the business. Dakota Wealth Management acquired a new stake in shares of BlackRock New York Municipal Income Trust in the 4th quarter worth approximately $112,000. Summit Trail Advisors LLC bought a new stake in BlackRock New York Municipal Income Trust in the 4th quarter valued at $146,000. Envestnet Asset Management Inc. boosted 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 acquiring an additional 2,873 shares in the last quarter. Landscape Capital Management L.L.C. acquired a new stake in shares of BlackRock New York Municipal Income Trust during the 3rd quarter valued at about $152,000. Finally, Sanctuary Advisors LLC lifted its holdings 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 purchasing an additional 1,749 shares during 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.