Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Stock Short Interest Report for October

Key Points

• Short interest surged 253.2% in October to 48,800 shares, representing approximately 0.2% of MHF’s outstanding shares and 0.4 days of trading volume to cover.
• MHF shares recently traded at $6.42, near the lower end of their 12-month range of $5.84 to $7.22 and below both their 50-day and 200-day moving averages.
• The fund declared a monthly dividend of $0.034 per share, equivalent to about $0.41 annually and a 6.4% yield; several institutional investors also increased or initiated positions.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) was the recipient of a large growth in short interest in 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 daily trading volume, of 138,245 shares, the days-to-cover ratio is presently 0.4 days.

Western Asset Municipal High Income Fund Price Performance

Shares of Western Asset Municipal High Income Fund stock traded down $0.12 during trading on Wednesday, hitting $6.42. The stock had a trading volume of 89,070 shares, compared to its average volume of 69,670. Western Asset Municipal High Income Fund has a 12 month low of $5.84 and a 12 month high of $7.22. The firm's fifty day simple moving average is $6.48 and its 200-day simple moving average is $6.81.

Western Asset Municipal High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be paid a $0.0340 dividend. The ex-dividend date of this dividend is Friday, November 20th. This represents a $0.41 dividend on an annualized basis and a yield of 6.4%.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE purchased a new position in Western Asset Municipal High Income Fund in the second quarter valued at about $4,105,000. Royal Bank of Canada boosted its holdings 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 valued at $349,000 after buying an additional 41,052 shares in the last quarter. 49 Wealth Management LLC purchased a new position in shares of Western Asset Municipal High Income Fund in the 2nd quarter worth approximately $255,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Western Asset Municipal High Income Fund by 6.7% in the 2nd 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.

Western Asset Municipal High Income Fund Company Profile

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.

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