Western Asset Municipal High Income Fund (NYSE:MHF) Stock Passes Below 50 Day Moving Average – What’s Next?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) passed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $6.92 and traded as low as $6.90. Western Asset Municipal High Income Fund shares last traded at $6.93, with a volume of 83,171 shares.

Western Asset Municipal High Income Fund Stock Down 0.3%

The firm has a fifty day moving average price of $6.92 and a 200-day moving average price of $6.92.

Western Asset Municipal High Income Fund Dividend Announcement

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

Institutional Trading of Western Asset Municipal High Income Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in shares of Western Asset Municipal High Income Fund in the fourth quarter valued at approximately $43,000. Osaic Holdings Inc. lifted its holdings in shares of Western Asset Municipal High Income Fund by 113.9% during the 2nd quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 3,900 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Western Asset Municipal High Income Fund in the 4th quarter worth $73,000. Private Advisor Group LLC purchased a new position in Western Asset Municipal High Income Fund during the 3rd quarter worth $73,000. Finally, Cetera Investment Advisers acquired a new position in Western Asset Municipal High Income Fund during the 2nd quarter valued at about $92,000.

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.