Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Shares Shorted: Short Interest Up 253.2% in October

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 48,800 shares, a growth of 253.2% from the September 30th total of 13,816 shares. Approximately 0.2% of the shares of the stock are sold short. Based on an average trading volume of 138,245 shares, the days-to-cover ratio is currently 0.4 days.

Western Asset Municipal High Income Fund Stock Up 1.9%

NYSE MHF traded up $0.12 during trading hours on Thursday, hitting $6.55. 102,867 shares of the company’s stock traded hands, compared to its average volume of 69,829. Western Asset Municipal High Income Fund has a 52-week low of $5.84 and a 52-week high of $7.22. The firm’s 50-day moving average is $6.48 and its 200-day moving average is $6.81.

Western Asset Municipal High Income Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be issued a dividend of $0.0340 per share. This represents a $0.41 annualized dividend and a dividend yield of 6.2%. The ex-dividend date is Friday, November 20th.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

A number of large investors have recently made changes to their positions in MHF. Northwestern Mutual Wealth Management Co. boosted its stake in Western Asset Municipal High Income Fund by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,505 shares of the financial services provider’s stock worth $242,000 after buying an additional 2,170 shares during the last quarter. 49 Wealth Management LLC acquired a new stake in shares of Western Asset Municipal High Income Fund in the 2nd quarter worth $255,000. Royal Bank of Canada increased its stake in shares of Western Asset Municipal High Income Fund by 441.2% in the 1st quarter. Royal Bank of Canada now owns 50,356 shares of the financial services provider’s stock worth $349,000 after acquiring an additional 41,052 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of Western Asset Municipal High Income Fund during the 2nd quarter worth $4,105,000.

About Western Asset Municipal High Income Fund

Western Asset Municipal High Income Fund Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol MHF. The fund is managed by Western Asset Management Company, LLC, an investment manager specializing in fixed-income strategies.

The fund seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. It generally invests in municipal securities issued by states, municipalities, public authorities and other governmental entities, with an emphasis on higher-yielding and potentially lower-rated municipal bonds.

Its portfolio may include tax-exempt debt issued for a range of public purposes, such as essential services, infrastructure and other governmental or community projects.