Western Asset Municipal High Income Fund (NYSE:MHF) Shares Down 0.3% - Should You Sell?

Key Points

• MHF shares fell 0.3% to $6.81 in midday trading, with volume slightly above average. The stock remains below its 50-day and 200-day moving averages, both near $6.93–$6.94.
• The fund declared a monthly dividend of $0.034 per share, payable August 31 to shareholders of record August 24, representing an annualized yield of approximately 6.0%.
• Several institutional investors increased their positions, including LPL Financial and Van ECK Associates. MHF invests primarily in high-yield municipal bonds to provide federally tax-exempt income.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) was down 0.3% during trading on Tuesday . The stock traded as low as $6.80 and last traded at $6.81. Approximately 59,701 shares were traded during mid-day trading, an increase of 5% from the average session volume of 56,710 shares. The stock had previously closed at $6.83.

Western Asset Municipal High Income Fund Price Performance

The stock has a 50-day simple moving average of $6.94 and a two-hundred day simple moving average of $6.93.

Western Asset Municipal High Income Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, August 31st. Stockholders of record on Monday, August 24th will be paid a $0.034 dividend. The ex-dividend date is Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 6.0%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MHF. Raymond James Financial Inc. boosted its holdings in Western Asset Municipal High Income Fund by 1.0% in the third quarter. Raymond James Financial Inc. now owns 1,046,548 shares of the financial services provider's stock worth $7,567,000 after purchasing an additional 10,603 shares during the last quarter. Bank of America Corp DE grew its position in Western Asset Municipal High Income Fund by 0.4% in the 3rd quarter. Bank of America Corp DE now owns 585,215 shares of the financial services provider's stock worth $4,231,000 after purchasing an additional 2,350 shares during the period. Titleist Asset Management LLC purchased a new stake in Western Asset Municipal High Income Fund during the 4th quarter valued at $2,863,000. LPL Financial LLC raised its stake in Western Asset Municipal High Income Fund by 17.0% during the 4th quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider's stock valued at $2,681,000 after buying an additional 56,526 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of Western Asset Municipal High Income Fund by 21.2% during the 4th quarter. Van ECK Associates Corp now owns 96,283 shares of the financial services provider's stock valued at $662,000 after buying an additional 16,843 shares during the period.

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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