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

Key Points

• Western Asset Municipal High Income Fund shares fell below their 50-day moving average, trading as low as $6.80 before closing at $6.89. The 50-day and 200-day averages were approximately $6.93 and $6.92, respectively.
• The fund declared a monthly dividend of $0.034 per share, payable November 30 to shareholders of record November 20, representing an annualized yield of about 5.9%.
• Several institutional investors increased their holdings, including Osaic Holdings, which raised its stake by 113.9%, and Steward Partners Investment Advisory, which increased its position by 24.2%.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report)'s share price crossed below its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $6.93 and traded as low as $6.80. Western Asset Municipal High Income Fund shares last traded at $6.89, with a volume of 55,362 shares changing hands.

Western Asset Municipal High Income Fund Price Performance

The stock has a 50-day simple moving average of $6.93 and a 200 day simple moving average of $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The company 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 dividend of $0.034 per share. The ex-dividend date is Friday, November 20th. This represents a c) dividend on an annualized basis and a yield of 5.9%.

Hedge Funds Weigh In On Western Asset Municipal High Income Fund

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in Western Asset Municipal High Income Fund by 8.5% in the 4th quarter. Commonwealth Equity Services LLC now owns 23,432 shares of the financial services provider's stock valued at $161,000 after purchasing an additional 1,839 shares during the period. Bank of America Corp DE increased its position in shares of Western Asset Municipal High Income Fund by 0.4% during the 3rd quarter. Bank of America Corp DE now owns 585,215 shares of the financial services provider's stock valued at $4,231,000 after purchasing an additional 2,350 shares during the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Western Asset Municipal High Income Fund by 24.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,726 shares of the financial services provider's stock worth $122,000 after purchasing an additional 3,452 shares during the period. Osaic Holdings Inc. raised its stake in shares of 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 during the period. Finally, Fortitude Advisory Group L.L.C. boosted its holdings in shares of Western Asset Municipal High Income Fund by 20.5% in the 4th 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 during the last quarter.

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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