Eaton Vance New York Municipal Income Trust (NYSE American: EVY) is a non-diversified, closed-end management investment company. The Trust's investment objective is to provide current income exempt from regular federal income tax and New York state personal income taxes through a portfolio invested primarily in investment-grade debt securities issued by New York municipalities and related entities; these include obligations from sectors such as cogeneration, electric utilities, escrowed/prerefunded bonds, hospitals, housing, industrial development revenue, water and sewer systems, special tax districts, real estate, toll roads, healthcare-acute care, transportation, student loans, and senior living/life care facilities. The Trust may also invest in residual interest bonds, known as inverse floating rate securities, to enhance yield potential.
Founded in 1999 and headquartered in Boston, Massachusetts, the Trust operates within the asset management industry, focusing on the municipal bond segment for income-oriented investors seeking tax-exempt returns. It trades on the NYSE American exchange with a market capitalization of approximately $81.95 million as of recent data, maintaining an average effective maturity of around 10-18 years, average duration of 7-8 years, and a portfolio comprising over 150 holdings.
In a significant operational change, shareholders approved the liquidation and termination of the Trust in July 2021 pursuant to a Plan of Liquidation adopted by the Board of Trustees, with portfolio liquidation commencing thereafter and final distributions to shareholders occurring on or about August 25, 2021; trading ceased on the NYSE American prior to market open on August 23, 2021. Despite this 2021 wind-down, certain financial data platforms continue to list recent stock prices around $15.17 and metrics such as a 4.98% return on equity, reflecting possible archival or data persistence rather than active operations. The Trust was managed by Eaton Vance Management, now part of Morgan Stanley Investment Management following Eaton Vance's acquisition in the early 2020s, which provided enhanced resources prior to closure.