Short Interest in Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Decreases By 33.9%

Key Points

• Short interest fell 33.9% to 35,054 shares as of April 15, leaving a short-interest ratio of just 0.6 days and about 0.2% of shares shorted.
• The fund declared a monthly dividend of $0.034 per share (ex-dividend May 21), implying an annualized yield of about 6.0%.
• Several advisers bought stakes recently—Osaic Holdings boosted its position by 113.9% to 7,323 shares (~$51K)—while the stock traded around $6.83, near its 52-week low.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totaling 35,054 shares, a decline of 33.9% from the March 31st total of 53,033 shares. Based on an average trading volume of 54,664 shares, the short-interest ratio is presently 0.6 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. 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 position in shares of Western Asset Municipal High Income Fund by 113.9% in the second quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 3,900 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Western Asset Municipal High Income Fund during the 3rd quarter valued at $71,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Western Asset Municipal High Income Fund during the 4th quarter valued at $73,000. Finally, Private Advisor Group LLC purchased a new stake in Western Asset Municipal High Income Fund during the 3rd quarter worth about $73,000.

Western Asset Municipal High Income Fund Price Performance

NYSE:MHF traded down $0.02 on Tuesday, reaching $6.83. 37,406 shares of the company's stock were exchanged, compared to its average volume of 54,153. The stock has a fifty day simple moving average of $6.90 and a 200-day simple moving average of $6.94. Western Asset Municipal High Income Fund has a 52 week low of $6.61 and a 52 week high of $7.64.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Investors of record on Thursday, May 21st will be paid a dividend of $0.034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%. The ex-dividend date is Thursday, May 21st.

About Western Asset Municipal High Income Fund

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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