Western Asset Municipal High Income Fund (NYSE:MHF) Share Price Crosses Above Fifty Day Moving Average – What’s Next?

Shares of Western Asset Municipal High Income Fund Inc. (NYSE:MHF) crossed above its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $6.42 and traded as high as $6.60. Western Asset Municipal High Income Fund shares last traded at $6.5490, with a volume of 111,537 shares changing hands.

Western Asset Municipal High Income Fund Trading Up 2.8%

The firm has a 50-day simple moving average of $6.42 and a 200-day simple moving average of $6.79.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. grew its position in Western Asset Municipal High Income Fund by 6.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 34,505 shares of the financial services provider’s stock valued at $242,000 after acquiring an additional 2,170 shares during the last quarter. StoneX Group Inc. purchased a new position in shares of Western Asset Municipal High Income Fund during the third quarter worth approximately $67,000. Collaborative Wealth Managment Inc. raised its stake in shares of Western Asset Municipal High Income Fund by 152.5% during the third quarter. Collaborative Wealth Managment Inc. now owns 37,878 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 22,878 shares in the last quarter. 49 Wealth Management LLC bought a new stake in shares of Western Asset Municipal High Income Fund in the 2nd quarter worth approximately $255,000. Finally, Ashton Thomas Private Wealth LLC bought a new stake in shares of Western Asset Municipal High Income Fund in the 3rd quarter worth approximately $241,000.

Western Asset Municipal High Income Fund Company Profile

Western Asset Municipal High Income Fund Inc is a closed-end investment fund listed on the New York Stock Exchange under the symbol MHF. The fund is managed by Western Asset Management Company, LLC, an investment manager specializing in fixed-income strategies.

The fund seeks to provide a high level of current income that is exempt from regular U.S. federal income tax. It generally invests in municipal securities issued by states, municipalities, public authorities and other governmental entities, with an emphasis on higher-yielding and potentially lower-rated municipal bonds.

Its portfolio may include tax-exempt debt issued for a range of public purposes, such as essential services, infrastructure and other governmental or community projects.