Western Asset Municipal High Income Fund (NYSE:MHF) Shares Up 0.2% - Time to Buy?

Key Points

• The Western Asset Municipal High Income Fund (NYSE:MHF) experienced a slight increase of 0.2%, trading at $6.85 with a high of $6.91 during mid-day trading.
• Investors recently received a $0.034 dividend on August 1, representing a remarkable yield of 595.0% based on shares issued to investors of record on July 25.
• Several institutional investors, including Prospera Financial Services Inc. and Northwestern Mutual Wealth Management Co., have significantly increased their stakes in the fund during recent trading quarters.

Shares of Western Asset Municipal High Income Fund Inc. (NYSE:MHF - Get Free Report) traded up 0.2% on Wednesday . The stock traded as high as $6.91 and last traded at $6.85. 59,867 shares changed hands during trading, a decline of 29% from the average session volume of 84,890 shares. The stock had previously closed at $6.83.

Western Asset Municipal High Income Fund Trading Up 0.1%

The firm has a 50-day moving average of $6.90 and a two-hundred day moving average of $7.16.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently declared a -- dividend, which will be paid on Monday, December 1st. Investors of record on Thursday, November 20th will be given a dividend of $0.034 per share. This represents a yield of 590.0%. The ex-dividend date is Thursday, November 20th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. ORG Wealth Partners LLC boosted its stake in shares of Western Asset Municipal High Income Fund by 2,713.5% in the first quarter. ORG Wealth Partners LLC now owns 70,562 shares of the financial services provider's stock worth $522,000 after acquiring an additional 68,054 shares during the last quarter. Wealthcare Advisory Partners LLC boosted its stake in shares of Western Asset Municipal High Income Fund by 64.5% in the first quarter. Wealthcare Advisory Partners LLC now owns 17,850 shares of the financial services provider's stock worth $132,000 after acquiring an additional 7,000 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Western Asset Municipal High Income Fund in the fourth quarter worth approximately $6,569,000. LPL Financial LLC boosted its stake in shares of Western Asset Municipal High Income Fund by 7.9% in the fourth quarter. LPL Financial LLC now owns 49,597 shares of the financial services provider's stock worth $337,000 after acquiring an additional 3,650 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Western Asset Municipal High Income Fund by 11.8% in the fourth quarter. Wells Fargo & Company MN now owns 51,865 shares of the financial services provider's stock worth $353,000 after acquiring an additional 5,473 shares during the last quarter.

Western Asset Municipal High Income Fund Company Profile

Western Asset Municipal High Income Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company. The fund invests in the fixed income markets of the United States. It invests primarily in intermediate and long-term municipal debt securities issued by state and local governments including U.S.