Western Asset Municipal High Income Fund (NYSE:MHF) Stock Crosses Below 50 Day Moving Average – Here’s Why

Western Asset Municipal High Income Fund Inc. (NYSE:MHFGet Free Report) shares passed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.93 and traded as low as $6.80. Western Asset Municipal High Income Fund shares last traded at $6.89, with a volume of 55,362 shares changing hands.

Western Asset Municipal High Income Fund Stock Performance

The stock’s fifty day moving average is $6.93 and its two-hundred day moving average is $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.034 dividend. The ex-dividend date is Friday, November 20th. This represents a c) annualized dividend and a yield of 5.9%.

Institutional Trading of Western Asset Municipal High Income Fund

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. boosted its stake in shares of Western Asset Municipal High Income Fund by 1.0% during the third quarter. Raymond James Financial Inc. now owns 1,046,548 shares of the financial services provider’s stock valued at $7,567,000 after purchasing an additional 10,603 shares during the period. Bank of America Corp DE raised its holdings in Western Asset Municipal High Income Fund by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 585,215 shares of the financial services provider’s stock valued at $4,231,000 after buying an additional 2,350 shares during the last quarter. Titleist Asset Management LLC purchased a new stake in Western Asset Municipal High Income Fund during the 4th quarter valued at $2,863,000. LPL Financial LLC grew its holdings in Western Asset Municipal High Income Fund by 17.0% in the 4th quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider’s stock worth $2,681,000 after acquiring an additional 56,526 shares during the last quarter. Finally, Van ECK Associates Corp increased its position in shares of Western Asset Municipal High Income Fund by 21.2% in the fourth quarter. Van ECK Associates Corp now owns 96,283 shares of the financial services provider’s stock valued at $662,000 after acquiring an additional 16,843 shares during the period.

Western Asset Municipal High Income Fund Company Profile

(Get Free Report)

Western Asset Municipal High Income Fund Inc is a closed-end management investment company that seeks to provide high current income exempt from federal income taxes. The fund primarily invests in U.S. municipal securities, with an emphasis on high-yield bonds issued by state and local governments, authorities and agencies. Its portfolio may include general obligation bonds, revenue bonds, pre-refunded bonds, insured securities and variable-rate instruments, with the goal of delivering attractive tax-advantaged yields for shareholders.

The fund is managed by Western Asset Management Company, LP, a global fixed-income specialist and subsidiary of Franklin Resources, Inc Western Asset’s investment team employs a disciplined, research-driven approach, combining top-down macroeconomic analysis with bottom-up credit research to identify opportunities across the municipal bond market.

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