Western Asset Municipal High Income Fund (NYSE:MHF) Stock Price Up 0.4% – Still a Buy?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares rose 0.4% during trading on Monday . The stock traded as high as $6.87 and last traded at $6.86. Approximately 99,021 shares were traded during mid-day trading, an increase of 71% from the average daily volume of 57,904 shares. The stock had previously closed at $6.83.

Western Asset Municipal High Income Fund Trading Down 0.6%

The business has a fifty day simple moving average of $6.97 and a two-hundred day simple moving average of $7.00.

Western Asset Municipal High Income Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 20th will be paid a $0.034 dividend. This represents a c) annualized dividend and a yield of 6.0%. The ex-dividend date of this dividend is Friday, February 20th.

Institutional Trading of Western Asset Municipal High Income Fund

A number of hedge funds have recently modified their holdings of MHF. Guggenheim Capital LLC lifted its position in Western Asset Municipal High Income Fund by 24.0% during the 2nd quarter. Guggenheim Capital LLC now owns 505,298 shares of the financial services provider’s stock valued at $3,512,000 after acquiring an additional 97,670 shares during the period. Raymond James Financial Inc. increased its position in shares of Western Asset Municipal High Income Fund by 8.9% during the second quarter. Raymond James Financial Inc. now owns 1,035,945 shares of the financial services provider’s stock valued at $7,200,000 after acquiring an additional 84,431 shares in the last quarter. Invesco Ltd. purchased a new stake in Western Asset Municipal High Income Fund during the 1st quarter valued at $475,000. Envestnet Asset Management Inc. bought a new stake in shares of Western Asset Municipal High Income Fund in the 3rd quarter worth $442,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in shares of Western Asset Municipal High Income Fund in the third quarter worth $250,000.

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.