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BlackRock New York Municipal Income Trust (BNY)

NYSE - NYSE Delayed Price. Currency in USD
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14.98+0.02 (+0.13%)
At close: 4:00PM EDT
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Previous Close14.96
Open14.96
Bid14.73 x 1100
Ask15.15 x 800
Day's Range14.93 - 15.02
52 Week Range13.17 - 16.50
Volume61,408
Avg. Volume71,373
Market Cap194.382M
Beta (5Y Monthly)0.18
PE Ratio (TTM)31.47
EPS (TTM)0.48
Earnings DateN/A
Forward Dividend & Yield0.68 (4.68%)
Ex-Dividend DateApr 07, 2021
1y Target EstN/A
  • Business Wire

    BlackRock Announces Closing of Reorganizations of Three Municipal Closed-End Funds

    BlackRock Advisors, LLC today announced that the reorganizations of each of BlackRock New York Municipal Income Quality Trust ("BSE", CUSIP: 09249U105) and BlackRock New York Municipal Income Trust II ("BFY", CUSIP: 09249R102), with and into BlackRock New York Municipal Income Trust ("BNY", CUSIP: 09248L106 and together with BSE and BFY, the "Funds") (the "Reorganizations") is effective as of the opening for business of the New York Stock Exchange on Monday, April 12, 2021.

  • Moody's

    BlackRock New York Municipal Income Trust -- Moody's assigns Aa2 rating to preferred shares issued by BlackRock New York Municipal Income Trust following reorganizations

    Rating Action: Moody's assigns Aa2 rating to preferred shares issued by BlackRock New York Municipal Income Trust following reorganizationsGlobal Credit Research - 09 Apr 2021New York, April 09, 2021 -- Moody's Investors Service, ("Moody's") has assigned a long-term Aa2 rating to Variable Rate Demand Preferred Shares (VRDP Shares) issued by BlackRock New York Municipal Income Trust (NYSE: BNY) following the merger of two BlackRock closed-end funds into the fund.Effective 12 April, BlackRock New York Municipal Income Quality Trust (NYSE: BSE) and BlackRock New York Municipal Income Trust II (NYSE: BFY) will be merged with and into BNY. Subsequently, the ratings on the preferred shares of BSE and BFY have been withdrawn.A summary of the rating action follows:-- BlackRock New York Municipal Income Trust, Series W-7 VRDP Shares 2021, $84.9 million (849 shares with liquidation preference of $100,000 per share) assigned at Aa2RATINGS RATIONALEThe long term Aa2 rating on the VRDP Shares is supported by BNY's excellent risk-adjusted asset coverage, solid asset profile and strong fixed charge coverage which were assessed on a pro forma basis, as if the reorganization of the respective funds had occurred.Pro forma, BNY compares favorably with higher rated closed-end funds across key rating factors.

  • Moody's

    BlackRock New York Municipal Income Trust -- Moody's assigns Aa2 rating to preferred shares issued by BlackRock New York Municipal Income Trust in advance of reorganization

    Rating Action: Moody's assigns Aa2 rating to preferred shares issued by BlackRock New York Municipal Income Trust in advance of reorganizationGlobal Credit Research - 31 Mar 2021New York, March 31, 2021 -- Moody's Investors Service, ("Moody's") has assigned a long-term Aa2 rating to Variable Rate Demand Preferred Shares (VRDP Shares) issued by BlackRock New York Municipal Income Trust (NYSE: BNY). The VRDP Shares are being issued in connection with the fund's upcoming reorganization in which BlackRock New York Municipal Income Quality Trust (NYSE: BSE) and BlackRock New York Municipal Income Trust II (NYSE: BFY) will merge with and into BNY. The proceeds from the VRDP Shares issuance will be used to redeem all of BNY's outstanding Variable Rate Muni Term Preferred Shares (VMTP Shares) prior to the reorganization.A summary of the rating action follows:-- BlackRock New York Municipal Income Trust, Series W-7 VRDP Shares, $94.5 million (945 shares with liquidation preference of $100,000 per share) assigned at Aa2RATINGS RATIONALEThe Aa2 rating on BNY's VRDP Shares reflects the fund's excellent risk-adjusted asset coverage, conservative underlying portfolio, and strong capacity to cover periodic obligations with recurring investment income.At the end of February, BNY's effective leverage stood at about 42% and its risk-adjusted asset coverage ratio was consistent with that of Aaa-rated closed-end funds.