BNY

BlackRock New York Municipal Income Trust is a closed-end management investment company that seeks to provide high current income exempt from both federal income taxes and New York State and New York City personal income taxes by investing primarily in New York municipal bonds. Managed by BlackRock Advisors, LLC, the fund maintains a portfolio of investment-grade and below-investment-grade municipal securities issued by or on behalf of the State of New York and its political subdivisions, agencies, authorities, and instrumentalities. This New York-focused strategy particularly benefits New York State residents, especially those residing in New York City, who receive triple tax exemption (federal, state, and city). The fund's portfolio includes New York municipal bonds issued for various public purposes including transportation infrastructure, education facilities, water and sewer systems, healthcare institutions, housing, and other governmental functions. For New York residents in high tax brackets, the triple tax exemption creates substantial after-tax yield advantages compared to taxable bonds or municipal bonds from other states. The fund's investment team conducts credit analysis across the quality spectrum, including high-yield New York municipal bonds offering enhanced yields with correspondingly higher credit risk, while maintaining portfolio diversification across issuers and sectors within New York State. As a closed-end fund, BlackRock New York Municipal Income Trust issues a fixed number of shares that trade on exchanges, often at premiums or discounts to net asset value (NAV). The fund employs leverage through borrowings or tender option bonds to potentially enhance returns and income generation, though leverage increases interest rate sensitivity and risk. The trust provides monthly distributions of tax-exempt income to shareholders. The fund particularly appeals to New York State residents, especially New York City residents, in higher tax brackets who benefit most from the triple tax exemption. Fund performance is influenced by interest rate movements, credit quality trends in New York municipal market, New York State and City fiscal conditions, and overall municipal bond market dynamics. The fund's New York concentration creates exposure to state and local government fiscal health and economic conditions specific to New York.