Western Asset Municipal High Income Fund Inc. (NYSE:MHF) Sees Significant Growth in Short Interest

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 149,500 shares, an increase of 44.9% from the March 15th total of 103,200 shares. Based on an average daily volume of 64,500 shares, the days-to-cover ratio is currently 2.3 days. Currently, 0.7% of the shares of the stock are sold short.

Western Asset Municipal High Income Fund Price Performance

Shares of NYSE MHF remained flat at $6.99 during mid-day trading on Friday. 23,694 shares of the stock were exchanged, compared to its average volume of 71,270. Western Asset Municipal High Income Fund has a 1-year low of $6.51 and a 1-year high of $7.83. The business has a fifty day simple moving average of $7.40 and a 200-day simple moving average of $7.19.

Western Asset Municipal High Income Fund Announces Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Tuesday, March 25th were given a $0.034 dividend. The ex-dividend date was Monday, March 24th. This represents a dividend yield of 5.34%.

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

Several hedge funds and other institutional investors have recently made changes to their positions in MHF. Raymond James Financial Inc. acquired a new stake in shares of Western Asset Municipal High Income Fund in the 4th quarter worth $6,569,000. Hennion & Walsh Asset Management Inc. increased its position in Western Asset Municipal High Income Fund by 9.8% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 475,225 shares of the financial services provider’s stock worth $3,232,000 after purchasing an additional 42,433 shares during the last quarter. HighTower Advisors LLC raised its stake in Western Asset Municipal High Income Fund by 1.5% during the fourth quarter. HighTower Advisors LLC now owns 125,811 shares of the financial services provider’s stock worth $856,000 after purchasing an additional 1,901 shares during the period. Van ECK Associates Corp raised its stake in Western Asset Municipal High Income Fund by 4.2% during the fourth quarter. Van ECK Associates Corp now owns 111,950 shares of the financial services provider’s stock worth $761,000 after purchasing an additional 4,543 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Western Asset Municipal High Income Fund by 14.4% in the 4th quarter. Jones Financial Companies Lllp now owns 62,321 shares of the financial services provider’s stock valued at $424,000 after purchasing an additional 7,843 shares during the last quarter.

About Western Asset Municipal High Income Fund

Western Asset Municipal High Income Fund Inc is a closed ended fixed income mutual fund launched and managed by Legg Mason Partners Fund Advisor, LLC. It is co-managed by Western Asset Management Company. The fund invests in the fixed income markets of the United States. It invests primarily in intermediate and long-term municipal debt securities issued by state and local governments including U.S.