Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Stock Short Interest Falls 75.5%

Key Points

• Short interest plunged 75.5% to 13,816 shares as of September 30, representing just 0.1% of MHF’s outstanding shares and a 0.1-day short-interest ratio.
• MHF shares opened at $6.28, compared with a 52-week range of $5.84 to $7.33, while the fund recently declared a monthly dividend of $0.034 per share, equating to an annualized yield of about 6.5%.
• Several institutional investors recently initiated or increased positions in the fund, which invests primarily in municipal bonds and seeks federally tax-exempt income.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) saw a significant decline in short interest in September. As of September 30th, there was short interest totaling 13,816 shares, a decline of 75.5% from the September 15th total of 56,376 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 118,503 shares, the short-interest ratio is currently 0.1 days.

Western Asset Municipal High Income Fund Stock Up 1.1%

Shares of MHF stock opened at $6.28 on Friday. The stock's fifty day moving average price is $6.58 and its two-hundred day moving average price is $6.80. Western Asset Municipal High Income Fund has a fifty-two week low of $5.84 and a fifty-two week high of $7.33.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Shareholders of record on Friday, November 20th will be issued a dividend of $0.0340 per share. This represents a $0.41 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Friday, November 20th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Astoria Portfolio Advisors LLC. bought a new position in Western Asset Municipal High Income Fund in the 4th quarter valued at about $119,000. Redwood Family Wealth LLC bought a new stake in Western Asset Municipal High Income Fund during the 4th quarter worth approximately $177,000. Fortitude Advisory Group L.L.C. raised its stake in shares of Western Asset Municipal High Income Fund by 20.5% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider's stock worth $190,000 after purchasing an additional 4,702 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Western Asset Municipal High Income Fund in the second quarter worth approximately $242,000. Finally, 49 Wealth Management LLC bought a new position in shares of Western Asset Municipal High Income Fund in the second quarter valued at approximately $255,000.

Western Asset Municipal High Income Fund Company Profile

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

The portfolio may include investment-grade and below-investment-grade municipal securities, including bonds that may offer higher income but involve greater credit and market risk.

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