Western Asset Municipal High Income Fund (NYSE:MHF) Stock Price Passes Below 200 Day Moving Average – Here’s Why

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.99 and traded as low as $6.91. Western Asset Municipal High Income Fund shares last traded at $6.9210, with a volume of 81,909 shares changing hands.

Western Asset Municipal High Income Fund Stock Up 0.2%

The firm’s 50 day moving average is $6.91 and its two-hundred day moving average is $6.99.

Western Asset Municipal High Income Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be issued a dividend of $0.034 per share. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Hedge Funds Weigh In On Western Asset Municipal High Income Fund

Several institutional investors and hedge funds have recently modified their holdings of the company. Bartlett & CO. Wealth Management LLC grew its stake in Western Asset Municipal High Income Fund by 68.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 4,220 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 1,720 shares during the period. Kestra Advisory Services LLC acquired a new position in Western Asset Municipal High Income Fund in the 4th quarter valued at $43,000. Osaic Holdings Inc. lifted its stake in shares of Western Asset Municipal High Income Fund by 113.9% during the 2nd quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 3,900 shares during the period. International Assets Investment Management LLC purchased a new position in shares of Western Asset Municipal High Income Fund during the 3rd quarter worth $71,000. Finally, Private Advisor Group LLC acquired a new stake in shares of Western Asset Municipal High Income Fund during the third quarter worth $73,000.

About Western Asset Municipal High Income Fund

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.