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

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty 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 trading hands.

Western Asset Municipal High Income Fund Stock Performance

The business has a 50 day moving average of $6.93 and a 200-day moving average of $6.92.

Western Asset Municipal High Income Fund Dividend Announcement

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

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Titleist Asset Management LLC bought a new stake in Western Asset Municipal High Income Fund during the 4th quarter worth about $2,863,000. Raymond James Financial Inc. grew its holdings in shares of Western Asset Municipal High Income Fund by 8.9% in the 2nd quarter. Raymond James Financial Inc. now owns 1,035,945 shares of the financial services provider’s stock valued at $7,200,000 after acquiring an additional 84,431 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Western Asset Municipal High Income Fund in the third quarter valued at about $442,000. LPL Financial LLC raised its holdings in Western Asset Municipal High Income Fund by 17.0% during the fourth 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 in the last quarter. Finally, Royal Bank of Canada raised its holdings in Western Asset Municipal High Income Fund by 441.2% during the first 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 in the last quarter.

Western Asset Municipal High Income Fund Company Profile

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.