Western Asset Municipal High Income Fund (NYSE:MHF) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• NYSE:MHF traded below its 200-day moving average ($6.99), hitting as low as $6.91 and last trading at $6.9210 on volume of 81,909, signaling short-term technical weakness.
• The fund declared a monthly dividend of $0.034 payable May 29 (ex-/record date May 21), implying an annualized yield of about 5.9%.
• Several institutions added or initiated positions in the fourth quarter — including Redwood, Astoria, XTX and Kestra — while Fortitude increased its stake by 20.5% to 27,652 shares (~$190K), showing some institutional interest despite the price dip.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report)'s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $6.99 and traded as low as $6.91. Western Asset Municipal High Income Fund shares last traded at $6.9210, with a volume of 81,909 shares traded.

Western Asset Municipal High Income Fund Stock Up 0.2%

The stock's 50 day moving average is $6.91 and its 200 day moving average is $6.99.

Western Asset Municipal High Income Fund Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be given a $0.034 dividend. The ex-dividend date is Thursday, May 21st. This represents a c) annualized dividend and a dividend yield of 5.9%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MHF. Redwood Family Wealth LLC purchased a new stake in Western Asset Municipal High Income Fund in the 4th quarter valued at approximately $177,000. Astoria Portfolio Advisors LLC. acquired a new stake in Western Asset Municipal High Income Fund during the 4th quarter valued at $119,000. XTX Topco Ltd purchased a new position in Western Asset Municipal High Income Fund during the fourth quarter worth $151,000. Fortitude Advisory Group L.L.C. increased its position in Western Asset Municipal High Income Fund by 20.5% during 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 buying an additional 4,702 shares in the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of Western Asset Municipal High Income Fund in the fourth quarter worth $43,000.

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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