Western Asset Municipal High Income Fund (NYSE:MHF) Stock Crosses Below Fifty Day Moving Average – Here’s What Happened

Western Asset Municipal High Income Fund Inc. (NYSE:MHF) shares passed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $6.94 and traded as low as $6.87. Western Asset Municipal High Income Fund shares last traded at $6.90, with a volume of 29,577 shares changing hands.

Western Asset Municipal High Income Fund Stock Up 0.1%

The company’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $7.02.

Western Asset Municipal High Income Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 29th. Stockholders of record on Thursday, May 21st will be paid a dividend of $0.034 per share. The ex-dividend date is Thursday, May 21st. This represents a c) dividend on an annualized basis and a dividend yield of 5.9%.

Institutional Trading of Western Asset Municipal High Income Fund

Hedge funds have recently added to or reduced their stakes in the company. Cetera Investment Advisers acquired a new position in Western Asset Municipal High Income Fund in the 2nd quarter valued at $92,000. Guggenheim Capital LLC increased its position in Western Asset Municipal High Income Fund by 24.0% during the 2nd quarter. Guggenheim Capital LLC now owns 505,298 shares of the financial services provider’s stock worth $3,512,000 after buying an additional 97,670 shares during the period. Raymond James Financial Inc. lifted its holdings in shares of Western Asset Municipal High Income Fund by 8.9% during the second quarter. Raymond James Financial Inc. now owns 1,035,945 shares of the financial services provider’s stock worth $7,200,000 after buying an additional 84,431 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Western Asset Municipal High Income Fund by 5.5% during the second quarter. Bank of America Corp DE now owns 582,865 shares of the financial services provider’s stock worth $4,051,000 after buying an additional 30,265 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its position in shares of Western Asset Municipal High Income Fund by 113.9% in the second quarter. Osaic Holdings Inc. now owns 7,323 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 3,900 shares during the period.

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.