Western Asset Municipal High Income Fund (NYSE:MHF) Stock Price Crosses Below 50 Day Moving Average - Here's What Happened

Key Points

• MHF shares fell below their 50-day moving average of $6.92, reaching an intraday low of $6.80 and closing at $6.83 on volume of 28,925 shares.
• 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 approximately 6.0%.
• Institutional activity was mixed but generally constructive: Raymond James increased its stake, while Bank of America and Titleist Asset Management initiated new positions; LPL Financial and Van ECK also raised their holdings.

Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) shares passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.92 and traded as low as $6.80. Western Asset Municipal High Income Fund shares last traded at $6.83, with a volume of 28,925 shares trading hands.

Western Asset Municipal High Income Fund Stock Performance

The business's fifty day moving average price is $6.92 and its 200-day moving average price is $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently announced 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) annualized dividend and a 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. Raymond James Financial Inc. boosted its stake in shares of Western Asset Municipal High Income Fund by 1.0% in the 3rd quarter. Raymond James Financial Inc. now owns 1,046,548 shares of the financial services provider's stock worth $7,567,000 after buying an additional 10,603 shares during the last quarter. Bank of America Corp DE purchased a new stake in Western Asset Municipal High Income Fund during the second quarter valued at $4,105,000. Titleist Asset Management LLC purchased a new stake in Western Asset Municipal High Income Fund during the fourth quarter valued at $2,863,000. LPL Financial LLC lifted its holdings in Western Asset Municipal High Income Fund by 17.0% in the fourth quarter. LPL Financial LLC now owns 389,642 shares of the financial services provider's stock valued at $2,681,000 after acquiring an additional 56,526 shares during the period. Finally, Van ECK Associates Corp boosted its position in Western Asset Municipal High Income Fund by 21.2% in the fourth quarter. Van ECK Associates Corp now owns 96,283 shares of the financial services provider's stock worth $662,000 after purchasing an additional 16,843 shares during the last quarter.

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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