Western Asset Municipal High Income Fund (NYSE:MHF) Shares Cross Below 200-Day Moving Average - Here's Why

Key Points

• MHF shares fell below their 200-day moving average of $6.90, trading as low as $6.73 and closing near $6.7450.
• The fund announced a monthly dividend of $0.034 per share, representing an annualized yield of approximately 6.0%; the ex-dividend date is November 20.
• Several investment firms recently initiated or increased positions in MHF, while the closed-end fund continues to focus on federally tax-exempt, high-yield municipal securities.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $6.90 and traded as low as $6.73. Western Asset Municipal High Income Fund shares last traded at $6.7450, with a volume of 25,066 shares.

Western Asset Municipal High Income Fund Price Performance

The firm has a 50-day simple moving average of $6.89 and a two-hundred day simple moving average of $6.90.

Western Asset Municipal High Income Fund Dividend Announcement

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 issued a $0.034 dividend. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

A number of hedge funds have recently added to or reduced their stakes in MHF. Kestra Advisory Services LLC purchased a new stake in shares of Western Asset Municipal High Income Fund during the fourth quarter worth $43,000. Osaic Holdings Inc. grew its stake in 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 in the last quarter. Private Advisor Group LLC purchased a new stake in Western Asset Municipal High Income Fund during the 3rd quarter worth about $73,000. Cetera Investment Advisers purchased a new stake in Western Asset Municipal High Income Fund during the 2nd quarter worth about $92,000. Finally, Astoria Portfolio Advisors LLC. acquired a new stake in Western Asset Municipal High Income Fund in the 4th quarter valued at about $119,000.

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.

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