Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Short Interest Up 389.4% in May

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 58,485 shares, a growth of 389.4% from the April 30th total of 11,950 shares. Based on an average daily volume of 45,331 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.3% of the shares of the company are short sold.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. boosted its stake in shares of Western Asset Municipal High Income Fund by 1.0% during 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 acquiring an additional 10,603 shares in the last quarter. Bank of America Corp DE boosted its stake 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 worth $4,231,000 after acquiring an additional 2,350 shares in the last quarter. Titleist Asset Management LLC purchased a new stake in shares of Western Asset Municipal High Income Fund during the 4th quarter worth approximately $2,863,000. LPL Financial LLC boosted its stake in shares of 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 worth $2,681,000 after acquiring an additional 56,526 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its stake in shares of Western Asset Municipal High Income Fund by 8.5% during the 3rd quarter. Prospera Financial Services Inc now owns 166,418 shares of the financial services provider’s stock worth $1,203,000 after acquiring an additional 13,007 shares in the last quarter.

Western Asset Municipal High Income Fund Price Performance

MHF traded down $0.01 during trading on Friday, reaching $6.95. The company’s stock had a trading volume of 45,876 shares, compared to its average volume of 49,455. Western Asset Municipal High Income Fund has a 52-week low of $6.61 and a 52-week high of $7.64. The company’s fifty day moving average price is $6.89 and its 200-day moving average price is $6.92.

Western Asset Municipal High Income Fund Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, August 31st. Shareholders of record on Monday, August 24th will be issued a $0.034 dividend. This represents a c) dividend on an annualized basis and a yield of 5.9%. The ex-dividend date of this dividend is Monday, August 24th.

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.