BNY Stock Summary and Trading Ideas (Blackrock Ny Muni Income Trust | NYSE:BNY)

BlackRock New York Municipal Income Trust’s (BNY) (the “Trust”) investment objective is to provide current income exempt from regular federal income tax and New York State and New York City personal income taxes. The Trust seeks to achieve its investment objective by investing primarily in municipal bonds exempt from federal income taxes (except that the interest may be subject to the federal alternative minimum tax) and New York State and New York City personal income taxes. The Trust invests at least 80% of its assets in municipal bonds that are investment grade quality at the time of investment. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Blackrock Ny Muni Income Trust trades on the NYSE stock market under the symbol BNY.

As of April 18, 2024, BNY stock price was flat at $10.29 with 7,221 million shares trading.

BNY has a beta of 0.71, meaning it tends to be less sensitive to market movements. BNY has a correlation of 0.42 to the broad based SPY ETF.

BNY has a market cap of $248.16 million. This is considered a Small Cap stock.

In the last 3 years, BNY stock traded as high as $15.66 and as low as $8.60.

BNY has underperformed the market in the last year with a return of +4.2%, while the SPY ETF gained +22.2%. In the last 3 month period, BNY fell short of the market, returning +1.5%, while SPY returned +5.2%. However, in the most recent 2 weeks BNY has outperformed the stock market by returning -1.7%, while SPY returned -2.6%.

BNY support price is $10.23 and resistance is $10.35 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that BNY stock will trade within this expected range on the day.