586,427 Shares in Western Asset Municipal High Income Fund Inc. $MHF Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 586,427 shares of Western Asset Municipal High Income Fund in the second quarter, worth approximately $4.1 million and representing a 2.64% stake.
• MHF shares opened at $6.00, below their 50-day and 200-day moving averages, with a 52-week range of $5.84 to $7.48.
• The fund declared a monthly dividend of $0.034 per share, equivalent to approximately $0.41 annually and a 6.8% yield; it invests mainly in municipal securities and may hold higher-risk below-investment-grade bonds.

Bank of America Corp DE acquired a new stake in Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 586,427 shares of the financial services provider's stock, valued at approximately $4,105,000. Bank of America Corp DE owned 2.64% of Western Asset Municipal High Income Fund as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MHF. Fortitude Advisory Group L.L.C. grew its position in shares of Western Asset Municipal High Income Fund by 20.5% in the 4th quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider's stock valued at $190,000 after buying an additional 4,702 shares during the last quarter. Astoria Portfolio Advisors LLC. acquired a new stake in Western Asset Municipal High Income Fund during the 4th quarter valued at approximately $119,000. Redwood Family Wealth LLC acquired a new stake in Western Asset Municipal High Income Fund during the 4th quarter valued at approximately $177,000. Northwestern Mutual Wealth Management Co. bought a new position in Western Asset Municipal High Income Fund during the 2nd quarter worth approximately $242,000. Finally, Royal Bank of Canada raised its holdings in Western Asset Municipal High Income Fund by 441.2% during the 1st quarter. Royal Bank of Canada now owns 50,356 shares of the financial services provider's stock worth $349,000 after purchasing an additional 41,052 shares during the last quarter.

Western Asset Municipal High Income Fund Stock Performance

Shares of NYSE MHF opened at $6.00 on Tuesday. The company's 50 day moving average price is $6.70 and its 200-day moving average price is $6.84. Western Asset Municipal High Income Fund Inc. has a 52-week low of $5.84 and a 52-week high of $7.48.

Western Asset Municipal High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Stockholders of record on Friday, November 20th will be paid a $0.0340 dividend. This represents a $0.41 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date of this dividend is Friday, November 20th.

About Western Asset Municipal High Income Fund

Western Asset Municipal High Income Fund, Inc NYSE: MHF is a closed-end investment fund that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public-sector entities in the United States.

As a high-income municipal bond fund, MHF may invest in below-investment-grade and unrated municipal obligations, which can offer greater income potential but generally involve higher credit and liquidity risks than higher-rated securities.

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