Western Asset Municipal High Income Fund (NYSE:MHF) Share Price Passes Below 50-Day Moving Average – Time to Sell?

Western Asset Municipal High Income Fund Inc. (NYSE:MHF)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $6.81 and traded as low as $6.39. Western Asset Municipal High Income Fund shares last traded at $6.4340, with a volume of 77,404 shares changing hands.

Western Asset Municipal High Income Fund Price Performance

The business has a 50-day moving average of $6.80 and a 200 day moving average of $6.88.

Western Asset Municipal High Income Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 30th. Investors of record on Friday, November 20th will be given a $0.034 dividend. This represents a c) annualized dividend and a yield of 6.4%. The ex-dividend date is Friday, November 20th.

Hedge Funds Weigh In On Western Asset Municipal High Income Fund

Several institutional investors have recently bought and sold shares of MHF. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Western Asset Municipal High Income Fund by 6.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 34,505 shares of the financial services provider’s stock worth $242,000 after buying an additional 2,170 shares during the last quarter. Fortitude Advisory Group L.L.C. grew its position in Western Asset Municipal High Income Fund by 20.5% in the fourth quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 4,702 shares in the last quarter. Astoria Portfolio Advisors LLC. bought a new stake in Western Asset Municipal High Income Fund during the fourth quarter worth approximately $119,000. Redwood Family Wealth LLC purchased a new stake in Western Asset Municipal High Income Fund during the fourth quarter valued at approximately $177,000. Finally, 49 Wealth Management LLC purchased a new stake in Western Asset Municipal High Income Fund during the second quarter valued at approximately $255,000.

Western Asset Municipal High Income Fund Company Profile

Western Asset Municipal High Income Fund, Inc (NYSE:MHF) is a closed-end investment fund that seeks to provide a high level of current income exempt from regular U.S. federal income tax. The fund invests primarily in municipal securities issued by states, cities, counties, and other public-sector entities in the United States.

As a high-income municipal bond fund, MHF may invest in below-investment-grade and unrated municipal obligations, which can offer greater income potential but generally involve higher credit and liquidity risks than higher-rated securities.