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)’s stock price crossed 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 traded.

Western Asset Municipal High Income Fund Trading Down 0.4%

The business’s fifty day simple moving average is $6.92 and its 200-day simple moving average is $6.92.

Western Asset Municipal High Income Fund Announces Dividend

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

Institutional Investors Weigh In On Western Asset Municipal High Income Fund

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its holdings in Western Asset Municipal High Income Fund by 8.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 23,432 shares of the financial services provider’s stock valued at $161,000 after acquiring an additional 1,839 shares during the period. Bank of America Corp DE raised its holdings in 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 valued at $4,231,000 after acquiring an additional 2,350 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Western Asset Municipal High Income Fund by 24.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 17,726 shares of the financial services provider’s stock valued at $122,000 after acquiring an additional 3,452 shares during the period. Osaic Holdings Inc. grew its position 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 in the last quarter. Finally, Fortitude Advisory Group L.L.C. grew its position in shares of Western Asset Municipal High Income Fund by 20.5% during the 4th quarter. Fortitude Advisory Group L.L.C. now owns 27,652 shares of the financial services provider’s stock valued at $190,000 after purchasing an additional 4,702 shares in the last quarter.

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.